LTCUSD trade ideas
LTC/USDT Technical Analysis ( What Halving Targets )LTC/USDT Technical Analysis: Bearish Trends and Upside Opportunities
LTC is currently trading at $84, displaying a bearish trend. Our analysis suggests a potential downtrend continuation towards $78. Previous resistance at $100 resulted in a rejection, but key support levels offer potential upside opportunities.
If LTC holds the strong support at $78 and breaks above $100, we may witness renewed upward movement. This could lead to an upward rally towards the $140-$150 range. Traders, keep a close eye on the breakout at $100 for potential bullish momentum.
On the downside, a breakdown below $78 could trigger further declines. In such a scenario, downside targets of $60 and $50 come into play. This presents a potential long-term buying opportunity for those looking to accumulate LTC at lower prices.
Key Levels:
Support: $78, $63, $50
Resistance: $102, $150
Disclaimer: This analysis is not financial advice. Please conduct your own research before making any investment decisions.
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LTC Storms Towards a Rebound ⚡️🌩️ Will BTC and BNB Follow Suit?The global crypto market faces cloudy weather with some sun in the next 24 hours ⛅️, as the failure to reach an agreement on the US debt ceiling weighs on the market sentiment. This translates into a slightly bearish market 🐻 with downside risk.
The weather is however stormy ⛈️ – signaling an imminent rebound – for Litecoin today. Litecoin has been subject to profit-taking 💰 after interest for this crypto asset soared following its release of its own LTC-20 standard earlier in May.
Over a one-week horizon, cloudy weather with some sun ☀️ is predicted for Bitcoin and Binance Coin. This forecast can be translated into a slightly bearish market 🐻 with downside risk. The outlook is brighter for Ethereum and Ripple where a slightly bullish market 🐮 with upside potential is likely.
Follow us to stay updated with more crypto weather insights and reports!🌩️⛅🌈
Litecoin to breakdown?Litecoin - 24h expiry - We look to Sell a break of 88.78 (stop at 91.78)
Daily signals are bearish.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of the recent low at 88.90 should result in a further move lower.
Expect trading to remain mixed and volatile.
Although buying has been posted overnight, the rally has been limited.
Our profit targets will be 81.28 and 80.28
Resistance: 93.00 / 94.15 / 95.00
Support: 90.20 / 88.90 / 87.50
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LTCUSD (4H) - Hi Traders
LTCUSD (4H Timeframe)
Waiting for the downward break of 89.21 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 93.50 would cancel the bearish scenario.
Trade details
Entry: 89.21
Stop loss: 93.50
Take profit 1: 86.56
Take profit 2: 82.27
Score: 7
Strategy: Bearish reversal
Litecoin: a correction back to its 200-day?A price action below 92 supports a bearish trend direction.
Increase short exposure for a confirmed break below 90.
The target price is set at 80 (just below its 200-day simple moving average).
The stop-loss is set at 100 (its 200-week simple moving average).
Negate the idea for a break above 94 (recent tops).
Remains a risky trade.
LTC's future road will be smootherA necklace of indicators shows that LTC, the 12th largest cryptocurrency by market valuation, is trading at a discount.
Specifically, LTC has a negative fair value market value (MVRV) Z-score as of press time. According to analyst firm Glassnode, a score below zero indicates that the cryptocurrency is undervalued relative to its fair value.
Capitalization is calculated by multiplying the total number of tokens in circulation by the prevailing market rate of LTC. Fair value is a change in market value that increases the market value of a coin when it was last moved on the blockchain. This value excludes all tokens lost in circulation (over 15%) and is considered to reflect the net or fair value of the network.
The Z-score represents the difference between the market value and the fair value. Historically, a Z-score above 8 indicates overvaluation and bullish tops, while a negative value indicates undervaluation and market bottoms.
This is not the first time. In the past, the indicator has repeatedly consolidated below zero, eventually paving the way for a massive rally.
If the trend is flat, the path of least resistance seems to be on the higher side. That said, LTC and the cryptocurrency market in general remain vulnerable to adverse macroeconomic developments such as tightening liquidity and the state of the global economy.
At press time, LTC was trading at $91.19, up nearly 31% year-over-year. Earlier this week, the price touched a one-month high of $95.
LiteCoin is planning a third mining reward halving in early August, after which the per-block reward paid to miners will be reduced by 50 percent from 12.5 coins to 6.25.