Litecoin (Cryptocurrency)
LTC 24-Hr ☁️ Forecast (Bearish Trend); Reversal In One Week 🌞Bullish sun 🌞 continues to shine over the global crypto market in the next 24 hours, signaling upside potential. Yet, some altcoins, such as Litecoin, Avalanche, and Binance, face cloudier ☁️, slightly bearish trading conditions.
ATTMO signals bullish sun 🌞 for Bitcoin, Litecoin, Cardano, Chainlink, and Uniswap over a one-week horizon. Ether, XRP, and Binance, however, face bearish scattered clouds ☁️ indicating a downward risk. 🚀🔍
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(LTCUSDT chart)
(1D chart)
While trading futures, there are times when you need to check the big picture movements.
That's when a trade doesn't go well or when a big uptrend is expected.
Looking at the big picture of the LTC chart, we can see that the current HA-High indicator point at 99.58 corresponds to an important turning point.
This roughly means that we need to consider whether we can hold it during the 52% uptrend.
Long-term holding like this is only possible when there is low leverage or a small investment proportion, but in reality, there is little chance of overcoming this upward trend.
If you hold it, it is expected that you will have to overcome two major crises.
1st: 78.47
2nd: 90.43
We need to check whether the price will rise in the 1st and 2nd areas above.
(1h chart)
It touched the HA-Low indicator and rose, and continued its upward trend along with the HA-High indicator.
However, now the HA-Low indicator has been touched again.
Therefore, we can see that we have reached a trend reversal section.
Therefore, the key is whether it can be supported and rise in the 64.06-64.92 range.
If not, there is a high possibility that it will turn into a downward trend.
However, since the 62.35 point is the point where the HA-Low indicator on the 1D chart was formed, there is a high possibility that a rebound will begin around this point, so caution is required when entering a SHORT position.
If the price rises above 64.92 and holds, the target range is around 67.35-67.18.
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- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
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Plan Ahead: SETUPS for ETH, LTC and DISHi Traders, Investors and Speculators of Charts📈📉
The markets are trading in the red and it can be hard to spot good trading opportunities during bloodbaths. However, that doesn't mean that you can't still find good trading opportunities.
Some of the setups in the video might come sooner than others; because crypto is more volatile than stocks I always expect crypto to move first, or with more extreme movements than stocks.
A few more high-reward low-risk setups here:💥
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CryptoCheck
LTC☀️ Ahead - Slightly Bullish Market; Yet, 🌧️ Week for Crypto Clouds and rain ☔ forecast for the global crypto market in the next 24 hours and week as bond yields surge to decade highs. Bearish sentiment looms for crypto coins.
Litecoin and Chainlink, however, bring a glimmer of ☀️, hinting at a slightly bullish trend.
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LTC/BTC ~ 4-years channelPlan > retest 4-years channel (0,0032-0,0030 = ~ Fib 0,382) and moon
Target > ~ 0,010 - 0,013
Time > ~ 5-8 months (april-july 2023)
P.S. I know in the previous forecast I overestimated the bulls, it's because I thought we still have time before the start of the bear market.
But look how perfectly the channel worked.
I think that we will still test it, as a correction, before the moon.
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The first reason is that Bitcoin has not bottomed out. (13,000$ - 10,000$, perfect - 12,000$)
The second is that Litecoin has not bottomed in the USD pair (experience tells me that it is somewhere between $40-25, but if you see $30, don't wait for $25) or has not tested the intermediate bottom ($40).
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I don't think the bear will last long, it may take a few days or hours to resolve.
Maybe I'm wrong, and from here we will leave $ 100 or even more, you always need to have a back-up plan.
Keep abreast of the market
Fast Rabbit or Smart TurtleOk, let's try to figure out what's going on.
First, I would like to start with my previous chart (published Jan 13, 2021) which I am constantly updating, tired of updating.
The bullish parabola worked, although not in the way I expected, summer suddenly popped up and ruined our plans to be rich. And the 5th Elliott wave turned out to be shorter than the 3rd, and did not even reach 400. After that, a bear market began, and we will talk about it.
So, I have doubts that the bear market is over, maybe it is, and we are in the accumulation phase, but here's what gives me peace of mind:
1) Bitcoin, did not finish the final candles.
2) LTC/USD just touched $40, flew off in a bullish channel (which looks like a bear flag twin), and trades at 2x its low.
3) LTC/BTC broke through the 4-year down channel and flew quite high, didn't even test it, and all that's holding it back now is candle shadow resistance and bitcoin uncertainty.
What's next?
1) The red channel is over, that's understandable
2) As a resistance, we have an ascending green channel, and the level of $78 (1 weekly close). I want you to understand that this is what is holding back growth in this piece.
3) Below the main green, we have a supporting green, and a yellow resistance channel (from the tops of 2021 where the 3rd and 5th Elliot waves ended). Below they are in contact, the price will not necessarily come there, but this is the place of a potential fall - IF IT WILL.
PS: I want to note that the upper part of the YELLOW channel can be a problem for us, a good resistance (about $100) if we break through $78 and the green channel. I am sure that there will be NO problems if we charge below before growth.
<--- I also have a theory, in favor of the bear, that this correction is quite difficult, and now it looks like a 4 bear wave, wave 5 will complete it somewhere between $40-25. (wxyxz) --->
Results: I don't know for sure where the market will go. I remember about the halving, but it doesn't hurt to throw out everyone who is holding a long in the end.
So let's buy it for $40... or $140.
Not long left waiting!
LTCUSD: Ascending Broadening Wedge with a Confirmed Partial RiseWe have confirmed the partial rise of the Ascending Broadening Wedge and have failed to break above the major support/resistance level. I now expect the price of LTC to go even lower than 40 and perhaps to around $25-$19 as that would be the HOP level of the Bullish Bat it is currently BAMMing from, but it is possible we get a reaction at around $35 as that would be the 88.6% Retrace, but the most confluence is at the $25-$19 area.
LTC: Support BreakoutLitecoin (LTC) technical analysis:
Trade setup : Following a bearish breakout from a Channel Down pattern, price has now also broken below $65 support zone, resuming its downtrend. That support area held up recently in August but also in March and Dec 2022, thus its significant sign of weakness to see that level broken. Price could revisit $50 support next.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance : Nearest Support Zone is $65, which it broke, then $50. The nearest Resistance Zone is $75 (previous support), then $100.
Recent Trends and Key Support LevelsOver the course of the last month, Litecoin (LTC) has persistently followed a declining trajectory within a short-term channel. This downward movement has notably coincided with a surge in selling pressure across the broader market. This alignment of factors has led to a significant breach of the channel's bottom, effectively breaking through a support level that was previously deemed sturdy at around $66.
In addition to this breach, an examination of the chart reveals that even when considering the presence of an ascending channel, the lower boundary of this channel has been breached as well. This dual breach prompts us to carefully assess the current situation.
In light of these developments, there are two primary courses of action that traders and investors should contemplate. Firstly, we may opt to patiently await a robust resurgence in Litecoin's price that brings it back within the confines of the channel. Alternatively, we could also consider the possibility of the ongoing downward trend persisting, potentially leading the price towards the support level situated around $41.
It's important to note that this $41 support level carries significant importance, as it possesses substantial potential for a strong market reaction. In such a scenario, demand for Litecoin could surge, possibly reaching its highest point in this specific price range.
In the short term, we anticipate Litecoin's price to exhibit a trading range, oscillating between the resistance formed by the previously broken channel's bottom and the support zone around $56. This range-bound movement signifies a period of uncertainty and consolidation in the market, as traders assess the evolving dynamics of Litecoin's price within the context of the broader market conditions and prevailing trends.
PROFIT: Finding TRADES on RED WEEKSHi Traders, Investors and Speculators of Charts📈📉
The markets are trading in the red and it can be hard to spot good trading opportunities during bloodbaths. On the charts, we're looking at:
CHEWY NYSE:CHWY
Spot position, anticipating trading back up towards the gap. +17% , low risk high reward trade
WALT DISNEY NYSE:DIS
Spot accumulation, potential for +153% increase. Very low risk and high reward setup
TESLA NASDAQ:TSLA
Long from trendline support, anticipated +28%, medium risk high reward setup
LITECOIN BINANCE:LTCUSDT
Short to next support zone, +12% medium risk medium reward setup
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We thank you for your support !
CryptoCheck
Litecoin- Drop to 40 by year's end, if not even sooner?After the "halving" sell the news and the false break above 100 figure, Litecoin dropped like a stone and at this moment is trading back to important 60 zone support.
The structure is extremely bearish and considering the overall sentiment for the crypto market, I expect a break under this support.
I'm looking to sell above 70 if it even has the power to rise there with a target in last year's low at 40.
LTC A breakout is around the cornerLooking at the LTC chart, it strongly bounced back after having continuous down trend.
A major resistance is waiting around 64.5$
If LTC breaks this resistance successfully then we can expect a decent upward movementum.
I'm planning to enter a LONG position after a successful breakout with a tight stoploss.
Checkout the chart for trade details, use trailing stoploss to secure your profit and catch maximum profits.
Stoploss is must!
Follow us for more updates.
Cheers!
Is Litecoin hinting at an upward move? Long trade #4Historically, in previous years, the price of Litecoin was one of the first to start a growth trend globally and at the same time one of the first to correct.
If the previous sentence has aroused your interest, you can check out our previous ideas on the LTCUSDT ticker, where we described it in more detail and showed it on charts.
So, let's try to assume that the painful correction of the LTCUSD price is already over, which means it's time to grow. Therefore, we suggest a long trade for LTC on the following conditions:
Enter = 66.51
Stop = 63.97 (-3.9%)
TP = 80.24 (+ 20.6%)
P/L ratio = 5.4
Traditionally, we allocate $10,000 for this trade . In the event of a mistake, we will lose $390. If the trade works according to our scenario, we will receive a profit of $2060.
What do you think of this trade, and what is your vision of the Litecoin market? Write about it in the comments!
Driving Forces Behind Cryptocurrencies' VolatilityIn the ever-evolving realm of modern finance, the emergence of cryptocurrencies has catalyzed a seismic shift, captivating the imagination of investors and traders alike. Since the inception of Bitcoin in 2009, the cryptocurrency market has experienced an unprecedented surge, leading to a proliferation of digital assets, each with its own unique characteristics and potential applications.
However, amid the exhilarating highs and gut-wrenching lows, the cryptocurrency market's intrinsic volatility has left many pondering the enigmatic forces that propel its wild fluctuations. This article embarks on a comprehensive exploration of the fundamental drivers that propel the volatile universe of cryptocurrencies, providing an in-depth analysis of the intricate interplay between a myriad of elements that influence prices and sentiment.
From the far-reaching impact of macroeconomic factors and regulatory dynamics to the revolutionary power of technological advancements and the sway of market sentiment, a complex tapestry of influences collectively shapes the turbulent journey of digital currencies. As the global financial ecosystem grapples with the ongoing evolution of this nascent asset class, acquiring an intimate understanding of these pivotal factors becomes a cornerstone for investors, traders, and enthusiasts navigating this dynamic landscape.
Diving into the Cryptocurrency Mosaic
Cryptocurrencies have transcended their origin with Bitcoin to establish a vibrant and diverse ecosystem of digital assets. Each cryptocurrency possesses a distinct set of attributes, use cases, and underlying technologies, intricately weaving into the intricate fabric of the market.
Broadly categorized, cryptocurrencies fall into two primary groups: coins and tokens. Coins like Bitcoin, Litecoin, and Bitcoin Cash are engineered to facilitate transactions and serve as alternatives to conventional currencies. In contrast, crypto tokens are constructed atop existing blockchain platforms, such as Ethereum, fulfilling functions like governance and ecosystem transactions.
Furthermore, the consensus mechanisms employed by cryptocurrencies contribute to their diversity. The proof-of-work (PoW) mechanism, utilized by Bitcoin and others, relies on mining for transaction validation. Conversely, the proof-of-stake (PoS) mechanism, exemplified by Ethereum and Cosmos, leverages validators to confirm transactions, enhancing energy efficiency and scalability.
Decrypting Cryptocurrency Volatility
Volatility is an intrinsic characteristic of cryptocurrencies, fueled by a confluence of influential factors:
Limited Liquidity: With trading volumes and market capitalization often lower than traditional assets, even modest buy or sell orders can generate substantial price fluctuations.
Speculative Nature: Cryptocurrencies are frequently viewed as speculative instruments, leading to price movements driven by market sentiment, hype, and speculative behavior, rather than fundamental analysis.
Regulatory Ambiguity: As a relatively nascent and lightly regulated market, regulatory developments can trigger abrupt price shifts as investors respond to changes or uncertainties in the legal landscape.
Sentiment Swings: Market sentiment, shaped by events like security breaches or regulatory announcements, can exert considerable influence on cryptocurrency prices.
Manipulation Vulnerability: Due to limited oversight and liquidity in certain markets, cryptocurrencies are susceptible to manipulation by sizable holders, leading to price distortions.
Technological Factors: Technical vulnerabilities or glitches can prompt swift price fluctuations as investors react to perceived risks associated with the underlying technology.
Adoption and Utilization: The practical adoption and use cases of cryptocurrencies significantly influence their value. Currencies with tangible utility and real-world applications tend to garner heightened interest and market support.
Supply and Demand: The fundamental economics of supply and demand guide cryptocurrency prices. Scarce supply coupled with growing demand can propel prices upward.
Macroeconomic Influences: Broader macroeconomic factors, encompassing inflation, interest rates, and geopolitical events, can channel investor attention toward cryptocurrencies as alternative investment vehicles or stores of value.
Influential Figures' Statements: Public endorsements or criticisms from influential figures exert considerable impact on cryptocurrency prices, shaping market perceptions and behavior.
Conclusion
As cryptocurrencies reshape the financial landscape, delving into the driving forces behind their volatility is essential for navigating this dynamic market. From the inception of Bitcoin to the kaleidoscope of digital assets that now flourish, the cryptocurrency market is characterized by its rollercoaster-like price oscillations.
This article has undertaken a comprehensive exploration of the key factors influencing this volatile realm. Regulatory shifts, market sentiment, technological advancements, hacking incidents, and supply-demand dynamics all converge to define cryptocurrency movements. Understanding these multifaceted influences empowers investors, traders, and enthusiasts to navigate the unpredictability of the crypto landscape with poise and informed decision-making.
While cryptocurrencies promise transformation, their journey is marked by rapid evolution and maturation. As the landscape continues to evolve, maintaining vigilance and adaptability remains pivotal. Regardless of your vantage point, comprehending these factors empowers you to seize opportunities and surmount challenges in the captivating realm of digital assets.
Litecoin rejected from $70- where to next?After the LTC halving the coin has been in a strong downtrend. The previous bounce on 29 August saw the FVG partially filled. Fib extension levels showed the $60.31 and $43.4 levels are the next downward targets that Litecoin could reach in the coming months
Entry: $70.7 (mid-June low)
Take-profit: $56 (17 August low but LTC could drop much lower)
Stop-loss: $75.84
R:R- 2.79
#LTC when to Short?LTC dumped pretty much after Halving.
Currently its in the range.
We may expect some bounce from current price level. But will it reach the resistance levels (red lines) that I mentioned on the chart - big question.
Anyways here are possible scenarios:
1. LTC bounces until 73$ where it faces W FVG where we may expect bear reaction. In this case possibility to 46$ support level increases
2. LTC breaks through 73$ resistance and comes to another resistance at 82 - 86$ and eather we see bears reaction is can be bearish divergence on LTF or bearish candles. And in this case coin may go lower back to 73$ which will stand as support.
3. LTC breaks below 73$ support and it may lead the coin back to 50 - 60$
4. LTC breaks above 86$ resistance, would be nice to see retest of that level and in this case the coin may go higher.