LTC Litecoin A Bit More Downside To Go
Hello friends, today you can review the technical analysis on the 1D linear scale chart for Litecoin ( LTCUSD ), an altcoin cryptocurrency. There are many technical indicators and oscillators noted in the analysis, so please review everything.
#CryptoPickk noted in the chart:
1) The price has been correcting after a massive rise upwards to around $302-$303. Currently the price is hovering inside the Golden Pocket (0.618-0.65) of the Fibonacci Retracement.
2) The Fibonacci Retracement level of 0.786 is a possible correction zone around $173.
3) This Fib level is also around in confluence with the 200 MA (moving average) of $177. Though price respected the 100 MA on November 26, 2021, the price has potential to go down further due to the overall #cryptomarket.
4) The Volume Profile (VPVR) is also showing significant support in the region of $170-$180 which is in line with the 200 MA and Fib level.
5) The RSI (relative strength index) is below the yellow trendline noted. If it breaks the trendline upwards, we may see a nice price movement upwards.
6) The MACD is still bearish and seems to be similar to a prior period outlined in the red ovals.
7) The Stoch RSI (Stochastic RSI) is in the oversold region. You can see from prior trends that it can hover in the oversold region for a longer period of time.
8) The Ichimoku Cloud is showing support at the estimated price range.
9) The Volume is healthy and shows momentum is there for price volatility for Litecoin.
10) Keep an eye on the price range between $170-$180 which is a 10%-11% drop from current price levels.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
#CryptoPickk noted in the chart:
1) The price has been correcting after a massive rise upwards to around $302-$303. Currently the price is hovering inside the Golden Pocket (0.618-0.65) of the Fibonacci Retracement.
2) The Fibonacci Retracement level of 0.786 is a possible correction zone around $173.
3) This Fib level is also around in confluence with the 200 MA (moving average) of $177. Though price respected the 100 MA on November 26, 2021, the price has potential to go down further due to the overall #cryptomarket.
4) The Volume Profile (VPVR) is also showing significant support in the region of $170-$180 which is in line with the 200 MA and Fib level.
5) The RSI (relative strength index) is below the yellow trendline noted. If it breaks the trendline upwards, we may see a nice price movement upwards.
6) The MACD is still bearish and seems to be similar to a prior period outlined in the red ovals.
7) The Stoch RSI (Stochastic RSI) is in the oversold region. You can see from prior trends that it can hover in the oversold region for a longer period of time.
8) The Ichimoku Cloud is showing support at the estimated price range.
9) The Volume is healthy and shows momentum is there for price volatility for Litecoin.
10) Keep an eye on the price range between $170-$180 which is a 10%-11% drop from current price levels.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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