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LTCUSD trade ideas

Litecoin presents an interesting setup After finding its low at $40.32 in June 2022, Litecoin rose over 160% within the span of a half-year. However, since the February 2023 high at $105.69, Litecoin’s price trend has been erratic. Litecoin has been oscillating between the two converging bounds, forming an interesting setup that caught our attention. For now, we would like to stay out of the market and observe the situation. Ideally, we would like to wait for the price to approach one of the boundaries of the formation and then assess the opportunity. Illustration 1.01 Illustration 1.01 displays the daily chart of LTCUSD. Two converging lines can be seen forming a pattern that resembles a symmetrical triangle. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
COINBASE:LTCUSD
by Tradersweekly
13
Litecoin (LTCUSD) Short Term Support AreaLitecoin (LTCUSD) shows a bullish sequence from 6.14.2022 low favoring further upside. Short term, rally from 3.11.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.11.2023 low, wave 1 ended at 103.41 and pullback in wave 2 ended at 71.37. The crypto currency has extended higher again in wave 3. Up from wave 2, wave (i) ended at 78.43 and pullback in wave (ii) ended at 75.73. The crypto currency extends higher again in wave (iii) towards 88.79 and pullback in wave (iv) ended at 84.48. Final leg wave (v) ended at 93.80 which completed wave ((i)). Pullback in wave ((ii)) ended at 81.84 with internal subdivision as a zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 86.48 and rally in wave (b) ended at 90.25. Wave (c) lower ended at 81.84 which completed wave ((ii)). Litecoin then turns higher in wave ((iii)). Up from wave ((ii)), wave i ended at 103, pullback in wave ii ended at 89.38. Wave iii higher ended at 111.22 and dips in wave iv ended at 102.74. Wave v higher ended at 114.92 which completed wave (i). Pullback in wave (ii) is in progress as a zigzag Elliott Wave structure. Down from wave (i), wave a ended at 105.1 and wave b rally ended at 109.69. Expect wave c lower to complete at 93.7 – 99.8 which should end wave (ii) in higher degree. As long as pivot at 81.84 low stays intact, expect buyers to appear at blue box of 93.7 -99.82 for further upside.
BITSTAMP:LTCUSD
by Elliottwave-Forecast
1
LTC Gains Momentum 🌞🚀 XRP's Stormy Forecast 🌧️?The crypto summer shows no signs of abating any time soon ☀️, according to ATTMO. Sun with a few scattered clouds - a slightly bullish market with upside potential - is likely over the coming hours and a one-week horizon. Litecoin and XRP buck this positive trend with rainy weather ahead in the next 24 hours, which signals a slightly bearish market with downside risk. Over a one-week horizon, Litecoin may continue to rise ahead of its halving, while XRP may continue to be under pressure, ATTMO indicates. Follow us for more crypto weather reports!
BINANCE:LTCUSD.P
by ATTMO
1st of 3 ltc targets hit!The $90 target from the smallest inv h&s (with the cyan neckline) has just been hit! We now have 2 more left to hit. And in hitting the tallest one it will take us up above the magenta trendline which will put into play an even higher possible target…until that happens we will not include that 4th potential target on the chart but probability is starting to favor that 4th target. As always when one target gets hit a retrace is very possible..we can already see a bit of a wick has formed..hard to say how much of a retrace will occur before it continues towards the second target though *not financial advice*
COINBASE:LTCUSD
by DrDovetail
2
The seven year squeeze? Part 2Looking good! Did I mention I liked this setup? Cheers, all. Happy 4th! ------------------------------------------------------------------------- I posted this the other day recommending you draw these lines on the weekly for yourselves and look across different time frames. <-- I still recommend doing this. It's an interesting chart. Anyway... It's also interesting that litecoin didn't make a new high along with the other coins in the last few years... or is it? I like it. I like it a lot.
COINBASE:LTCUSDLong
by pharmer75
5
LTCUSD: Uptrend Formation within Emerging TriangleThe LTCUSD pair has been displaying a consistent upward momentum, marked by higher highs and higher lows, suggesting a bullish bias. Concurrently, a triangle pattern has emerged on the price chart, signaling a period of consolidation before an expected breakout. Such formations often precede significant price movements, making them an area of interest for traders seeking potential profits. The suggested targets ( pivot points) for this trading idea are as follows: Target 1: 114.37 Target 2: 124.48 Target 3: 143.69
COINBASE:LTCUSDLong
by UnknownUnicorn48526553
Similarity between LTC halving and BTC halvingThe Litecoin (LTC) halving and Bitcoin (BTC) halving share some similarities, as they both involve a reduction in the block reward for miners. However, there are also some differences between the two events. Block Reward Reduction: Both LTC halving and BTC halving result in a reduction of the block reward. In the case of BTC, the block reward is halved approximately every four years, while for LTC, it occurs every four times the number of blocks mined compared to Bitcoin. This means that LTC halving happens roughly four times more frequently than BTC halving. Supply Reduction: Both halvings aim to reduce the rate at which new coins are introduced into circulation. By reducing the block reward, the inflation rate decreases, leading to a more controlled and limited supply of new coins. This reduction in supply can potentially impact the price of the respective cryptocurrencies, as it can create a scarcity effect. Market Anticipation: Leading up to both LTC halving and BTC halving, there is often a period of market anticipation and speculation. Traders and investors closely monitor these events, expecting them to have a positive impact on the price due to the reduced supply. This anticipation can drive up the price in the months preceding the halving. Miner Incentives: Both halvings affect the incentives for miners. As the block reward decreases, miners receive fewer coins for their mining efforts. This reduction in rewards can lead to a shift in mining profitability and may impact the overall mining ecosystem. Miners may need to upgrade their equipment or adjust their strategies to maintain profitability. Despite these similarities, it's important to note that BTC and LTC are separate cryptocurrencies with their own unique characteristics and ecosystems. While they share some fundamental concepts, they also have differences in terms of adoption, market capitalization, community, and development, among other factors. Therefore, the impact and significance of the halving events can differ for each cryptocurrency.
BINANCE:LTCUSDShort
by NETchapter
2
LTC wants to follow in BCH footstepsLTC seems to be catching up to a major trend line forming off the previous cycle top. I anticipated this being a major area of resistance for the original alternative coin. Descending resistance is lining up with horizontal resistance and the price action is bouncing between these two key levels. RSI is in the mid 70s, which is a common turning point in the price action. Big spike in trading volume, with slight gradual gain in trading volume over the last few weeks. If LTC wants to move like BCH did, my targets for the coin are as follows: 129.50 146.30 Keep an eye on LTC, it moved 30% in a single daily candle and may have more steam. NFA Do your own DD Novice trader here!
COINBASE:LTCUSDLong
by BallsOfSteel32
1