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LTC/USD Eyeing Long-Term Double-Top Completion?Longer-term price action for Litecoin (LTC) versus the US dollar (USD) is on the verge of challenging trendline support, extended from the low of $40.18. With price action failing to print any meaningful highs following the previous test of trendline support, a break below the trendline support could be seen and may serve as an early cue for completing a double-top pattern from around $113.80. The neckline for the double-top pattern resides just below at $54.61.
FPMARKETS:LTCUSDShort
by FPMarkets
1
Technical Analysis: LitecoinOverview As of the latest analysis, Litecoin (LTC) presents a mixed sentiment with a leaning towards a bearish outlook in the short to medium term. The currency's performance over the past week and month has shown significant declines, aligning with the overall sentiment depicted by the majority of technical indicators utilized. Technical Indicators Moving Averages (MAs): A strong sell signal is evident as the short-term moving averages (10-day, 20-day, 30-day) are positioned above the current price, indicating downward pressure. The exponential moving average (EMA) for 200 days and simple moving average (SMA) for 200 days are below the current price, suggesting some support in the longer term, albeit the immediate trend remains bearish. Relative Strength Index (RSI): Currently at 41.41, the RSI remains neutral, reflecting neither overbought nor oversold conditions, but close attention should be paid as it edges closer to the 40 threshold, which might indicate an upcoming stronger bearish momentum. MACD (Moving Average Convergence Divergence): The MACD remains below the signal line, reinforcing the sell signal and suggesting bearish momentum. Ichimoku Cloud: The price is below the cloud, confirming the bearish sentiment. The conversion line is below the baseline, which could typically be interpreted as a selling opportunity. Fibonacci Retracement: The recent price action is hovering around the key Fibonacci retracement levels from the last major high to low. The resistance levels at 87.61 (pivot) could serve as critical points to watch for potential reversals or further confirmation of the downtrend. Candlestick Patterns Recent trading sessions reveal a sequence of bearish candles, with the latest showing a small body, indicative of indecision but within a prevailing downtrend. This suggests that while sellers are in control, a reversal could occur if buying pressure increases near key support levels. Trading Strategy and Price Prediction Given the current technical setup, traders should consider a short position at the current level of $80.21, targeting the first major support zone around $76.36 (SMA 200-day level), with an extended target towards $71.57 (Fibonacci retracement level S1). A strict stop-loss should be placed around $83.10 (10-day SMA), to mitigate potential losses should a reversal to bullish momentum occur unexpectedly. For potential long positions, cautious entry is advised only if the price consistently closes above the 200-day moving averages with high volume, which could signal a shift in momentum. An initial target in such a bullish scenario would be the $87.61 pivot point, with a stop loss just below the 200-day EMA at $80.00.
CRYPTO:LTCUSD
by AxiomEx
Litecoin poking its head above the inverse h&s necklineAs I always reiterate, priceaction will often dip back down blow the neckline of an inverse head and shoulders pattern after the first time it breaks above that nckline, so you never want to get too overzealous about the initial neckline breach like we can see litecoin has jsut made on its inverse head and shoulder pattern. Probability is fairly good that I will have to readjust my measured move line slightly lower to wherever the real validation break of the invh&s neckline occurs, however there’s also plenty of examples where an asset has validated the invh&s breakout on the very first breach of the neckline so one must always take into consideration that that outcome is also quite possible. Either way, being deep into the midst of our current bull market,I am confident this invh&s attern will have its breakout inevitably validated at some point in the near future. We’re we to see a pattern like this in the middle of a bear market then probability would be much higher for the chance of it being a complete fakeout bull trap, but since the market cycle and overall macro sentiment of the market at the moment is bullish probability of this pattern being a fakeout/bull trap that ends up getting nullified is almost non existent. In my opinion Litecoin will need to flip the weekly 200ma(in blue) to solidified support before it can validate the breakout of this pattern so that will be something to watch for. *not financial advice*
BINANCE:LTCUSD
by DrDovetail
1
''Pulse'' of an asset times Fibonacci: Chapter 4: Impulse ReDuxThis is my 4th Idea or "Chapter" to collect evidence for my theories. This Chapter is to observe the results of price Returning to Impulse. I will be adding examples as ongoing "Updates" whenever I spot them. Impulse = strong continuous force for a limited amount of time. When there is a return to Impulse, it is a critical zone to watch. Rejection from, Penetration of, or Traversal through are clues. In this particular example, there was clear and exact Rejection. The resulting move followed the same Ripples as original move. Possible Deduction: the selling power in this Impulse is still 100%. Please take momen to look at the previous Chapters below. Original Edition with numerous examples: Chapter 2 with more advanced exampels: Chapter 3 to study the 9.618 Extension in particular: ALSO see the numerous other examples in the "Related Ideas" below.
COINBASE:LTCUSDEducation
by EuroMotif
4
LTC - Global and local trend🦈Hello! Today, we'll discuss a trading idea for 👨‍🦳#LTC from the #CryptoTop #Liquidity group. Before we begin, let's understand the global and local structure, determine the price direction, and identify the entry point. Let's dive into the analysis!🦈 ⏺On the global chart, long-term trading is marked in pink. ⏺Local trading is marked in blue. ⏺The trading scenario is marked in yellow. ⏺Global analysis (): ⏺The global resistance level is at $400, and the support level is at $33. The channel step is 1151%. ⏺The asset is in the accumulation phase, with important levels at $105 (accumulation resistance since 2022) and $50 (support), with a channel step of 111%. ⏺❗️It's important to note that a triangle pattern is forming on the chart, similar to the one formed in 2018-2020. This is confirmed by the numbers 1 and 2 on the chart, as well as the increasing lows 3 and 4, indicating price growth and aggressive accumulation. ⏺Local analysis (): ⏺Two descending trend lines are drawn on the local chart. A square marks a fractal-like pattern before the price rise in 2021, with the difference that the asset's price has already broken the descending trend line and retested it. ⏺A possible scenario remains a decline to the $50 level or consolidation at the support of the global ascending trend line and a rise to the resistance of the descending trend line at +161%. ⏺Trading scenario (): ⏺On the daily timeframe chart, the $93.40 level is crucial, as the asset's price impulsively dropped to the local descending trend line upon breaking it and did not retest it. ⏺📈The $72 level has also been confirmed as support for this channel with a 60% step. The asset's movement is considered a global ascending trend, and the trading scenario will be active upon the price returning to support ($72) and breaking the local descending trend line. The local potential is 60%, and upon breaking the $105 level, a 60% move to the global descending trend line is possible. 📈If the asset's price does not reach the $72 mark and approaches the trend line, I will consider trading on the trend line breakout.
COINBASE:LTCUSD
by SHARK1318
2
USD News Impact on LTC/USD: Importance of 1Y PP SupportHello Everyone, Given the recent USD developments, LTC/USD has explored support levels down to the 1Y PP, which has effectively held as a support level thus far. It is imperative at this juncture for the price to maintain above the 1Y PP to sustain its upward trajectory. Our immediate objective is to ensure a consistent position above the 1D PP to validate further potential upside. Conversely, should the price firmly establish itself below the 1Y PP, we anticipate further downside movement. TradeWithTheTrend3344
COINBASE:LTCUSDLong
by TradeWithTheTrend3344
Speaking of RSI trendlines...LTC is showing a glaringly obvious trend line in its daily RSI. Bitcoin is looking like it wants to retest recent highs as well and is in the process of breaking a series of lower highs. With LTCs halveninf having happened mid last year, if Bitcoin decides to take off here, LTC could be dragged into a rather large pump. No position here for me unfortunately as I'm very, very poor at the moment. If I had money though I'd be strong long. Gl
COINBASE:LTCUSDLong
by UnknownUnicorn5836947
LTC/USDT Harmonic Pattern Analysis for Profit PotentialOverview: LTC/USDT has exhibited the formation of an XABCD harmonic pattern, coinciding with price action reaching a critical support level. This convergence suggests a potential bullish reversal from point D, presenting a favorable opportunity for traders to capitalize on the anticipated upward movement. Entry Strategy: We recommend entering a long position near 97.8739, strategically positioning ourselves to benefit from the anticipated bullish momentum. Stop Loss Placement: To mitigate potential downside risk, it is advisable to place a stop loss order near 92.028411. This level serves as a safeguard against adverse price fluctuations, preserving capital in the event of an unexpected market downturn. Take Profit Targets: Our analysis identifies multiple profit-taking opportunities to optimize returns: - TP-1: 102.8740 - TP-2: 108.2745 - TP-3: 113.7637 These targets are strategically aligned with key resistance levels, offering potential exit points as the price advances. Risk Management: It is imperative for traders to adhere to disciplined risk management practices, including proper position sizing and adherence to stop loss levels. Additionally, monitoring market conditions and adjusting trading strategies accordingly can help mitigate inherent risks associated with speculative trading. Conclusion: In conclusion, the technical analysis of LTC/USDT indicates a promising bullish outlook, supported by the formation of a harmonic pattern and confluence with key support levels. By implementing a prudent entry strategy, combined with effective risk management techniques, traders can potentially capitalize on the anticipated upward movement and achieve favorable returns.
BINANCE:LTCUSDLong
by MZ_FX_