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LTC/USDT: Daily Breakout Analysis 1D (Aug. 01)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we explore Litecoin's daily chart in order to assess its breakout pattern and potential targets by identifying resistance zones and using the Elliott Wave theory. Analysis - To begin with, Litecoin has broken out of a bullish descending wedge formation, similar to EOS - Litecoin has been consolidating within this pattern for weeks before breaking out with immense bullish momentum - The Exponential Moving Average (EMA) Ribbon shows a golden cross as Litecoin broke out - Counting Elliott Waves, we can see Elliott Impulse Waves (12345) leading up to the descending wedge - Within the wedge pattern, it consolidated in Elliott Triangle Waves (ABCDE) - Having broken out from the pattern, it's anticipated that Litecoin would form bullish impulse waves once again - While the trend is extremely bullish, there are some concerns as well - Litecoin faces major historical resistance around 63.13 USDT - The Relative Strength Index (RSI) is also extremely overbought - The Moving Average Convergence Divergence (MACD) shows decreasing bullish histograms as it looks to potentially form a death cross What We Believe While the outlook on Litecoin remains bullish, based on current technicals, a small corrective wave is highly probable, considering the steepness of the rally. However, we believe that the bullish trend will remain intact, given that the degree of correction is not too severe. Let us know what you think in the comment section below Trade Safe.
Long
by XForceGlobal
2
LTCUSD long term weekly view ideaI believe we are breaking out of a long term trend line starting at the high of 146 on June 17th 2019 in this weekly candle depending on where it closes in six days, also the blue shorter term trend line stemming from the two wicks @ the highs 50.96 on April 27th 2020 and the wick on June 1st 2020 @49.90. To really confirm a breakout we not only have to close the weekly outside of the long term trend line but also not get rejected from the blue trend line, which if we tested this week would be at 48.87. A confirmed break above that level as well as the long term trend line and i will have my target set for 80$ with a hopeful retest of 64$ before a continuation. This is all subject to change depending on where this weekly candle closes.
COINBASE:LTCUSDLong
by cstevens97
Litecoin LTC Breaking outLTC is set for a big run both technically and fundamentally. LTC is not far off its low at this point and looks like a sleeping giant. Everyone talks about ETH and its true Ethereum is a juggernaut and will see significant upside. Litecoin is flying under the radar. This setup is ripe. Litecoin anywhere under $50 is an easy 2x in 3 months with the possibility of 3-4x. Litecoin blazes the trail for Bitcoin. One weekly close above the 200 EMA is all it will take for this one to 2x and then some. Litecoin could have an explosive rise in August. How I plan to trade this... Look for the Metroyska doll style nested H&S formations. Buy on the neckline on the way up and sell on top of the shoulder on the way down. The stage is set for 3 jumps up and based on past performance 3 down. Stick to the daily charts and longer time frame. I will post another chart in the future detailing this. Enough of the technical lets look at whats coming. One word "MimbleWimble" The groundwork has already been laid for implementing this hot new security protocol. In order to get there the project team needed to update the core code as well as the lightning network code. Both of these tasks are completed, in production environment, and running smoothly. The team is looking to release an update to the test network in September. Take a look at the new articles linked below for more details. litecoin.com litecoin.com litecoin.com
KRAKEN:LTCUSDLong
by Ursinae
LTCUSD D1 LONG PRICE ACTION FORECAST -UPDATE-Litecoin has been trading as expected in my previous analysis. The order will remain open, as price action continues to show and smooth but valid uptrend, trading with the rising triangle pattern. Just cut at half the risk and moved my S/L to a tight level, below the consolidation candle's shadow. -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
BITFINEX:LTCUSDLong
by OGFXTRADER
4
LTCUSD has bounced from the supportHey guys and gals hope you are doing well and welcome to the new update on Litecoin. In my previous post I was expecting that the price action has completed the final leg of bullish BAT pattern. But the final leg retraced little bit more down up to 1.281 retracement level and changed its pattern from BAT to bullish Crab pattern. After entering in the potential reversal zone pirceline moved up by 15%. Previouse post: Current Crab move: Finally priceline is moving up from the support of channel: The priceline of Litecoin has also formed in up channel after the mid of March 2020. And since 26th of June the priceline was moving at the support. Now finally the price action has started upward move and likely to make another attempt for the break out. Descending triangle and volume profile: If we switch to the long-term weekly chart then LTC coin is also moving in a descending triangle. After taking bounce from the support on 9th of March 2020 the price action is moving at the centre of this triangle. After placing the volume profile on the complete price action moving within descending triangle we can get the reason why the price action is moving at this level. And it can be clearly observed that the point of control of the volume profile is at this level. Therefore the priceline is moving around this point of control. However, if we watch the trader’s interest as per volume profile then it is at $85. Therefore it will be easy for the priceline to move up to this level. And in order to reach at this level the price action will need to breakout the resistance of this triangle. Conclusion: As the price action has already bounced from the support of the descending triangle and also has taken bullish divergence from the potential reversal zone of Crab pattern. Therefore we can expect that the priceline of Litecoin can make further upward move to reach at least up to the resistance of the triangle. However, we should set our stop loss point at the support of an up channel that is formed on the daily chart. Because if it will be broken down then priceline can start a downward rally.
COINBASE:LTCUSD
by moon333
1
LTC Gann prediction, final shakeout, spring is really coming?1. the last rising wave of ltc hasn't pumped too much, what's more, ltc/ btc finally broke through the long-term pressure level today, indicateing that the coming drop will not be too deep. 2. Charlie Lee will make LTC great again (he has money) 3. September 2020 is special . Defi, distributed storage filecoin is preparing to launch, also btc will have big move. Want to talk about the unique highlights of LTC? Sorry, Not at all, even if ltc returned to 300 dollars again, we can still see 40 dollars ltc again in the future LTC target: 88-107-150-220$
COINBASE:LTCUSDLong
by Biduoduoduo
1
LTCUSD a bullish reversal pattern is appearedHi friends hope you are well and welcome to the new update on Litecoin. The LTC coin is again at the support of the channel therefore in today’s post we will try to see whether it will break down the support or not and what the price action can do next. Harmonic moves with consistency and continuity: In my previous article we have seen that on the daily chart the priceline of Litecoin Is forming different harmonic patterns with consistency and continuity. 1st the price action formed a bearish Butterfly then the priceline of LTC formed a bullish BAT and after the completion of this bullish BAT the price action fromed another bearish BAT pattern and now the price action has again formed another bullish BAT pattern. At the moment the priceline is moving in the potential reversal zone since 11 June 2020. But we should set the potential reversal zone as our stop loss strictly because if the PRZ level will be broken down then the price action can move more down to form bulish Crab pattern. The support of all SMAs are broken down: If we watch the different simple moving averages with the time period of 25 50 100 and 20. Then it can be easily seen that the priceline of Litecoin has broken down all the simple moving averages and has no support of any SMA below the candlesticks. Therefore I would repeat again that we should take care of our stop loss and you can set your stop loss point at the maximum extent of potential reversal zone of BAT pattern. Movement in up channel and EMAs: Since mid of March 2020 price action is moving in an up channel and during this movement it is using the exponential moving averages with the time period of 10 in 21 as good support. At the moment price action of LTC has broken down these two exponential moving averages but having a strong support of up channel. If this channel will be broken down then a new bearish rally can be started that will take the price action more down. On the long term weekly chart I am waiting for the formation of bull cross between 50 and 100 simple moving average. If we take a look back at 2016 to 2017. Then after the formation of the this bull cross if a strong bullish rally was started that led the price action to $370. And this is the highest price ever. A bull flag between 50 and 100 SMAs was formed in Feb 2020. And after this cross we witnessed a powerful bullish rally in that month. But that cross was formed above the price action the difference between this bull cross and the previous cross is the previous bull cross between 50 and 100 simple moving averages was formed blow the candlesticks but current cross was formed above the candlesticks. If we want to see a powerful bullish move like we have seen back in 2017. Then we need this cross below the priceline. At this time the distance between the candlesticks and moving averages is very small. Therefore at anytime price action can cross up the moving averages and we can see a bull cross formation below the candle sticks. Conclusion: Even though the distance between the moving averages and the candlestick on weekly chart is very small but this is a fact that at this time the priceline has no support of any moving average on the daily chart. Therefore we should take care of our stop loss. However the BAT formation can save the priceline to break down the channel. And if the price action will take the bullish divergence from the potential reversal zone of the BAT then the price action can move up at least up to the resistance of the channel and that is at $50.
BITFINEX:LTCUSD
by moon333
1