LTCUST trade ideas
LTC Short-Term 1HIntervalHello everyone, let's take a look at the LTC to USDT chart on a one hour time frame. As you can see, the price is moving above the local downtrend line.
After unfolding the Fib Retracement grid, we can determine a support zone from $63 to $62, then we have a second zone from $60 to $59, and then strong support at the price of $57.
Looking the other way, we see that the price is struggling with the resistance zone from $64 to $65, then we have resistance at $67, and then strong resistance at $70.
Looking at the CHOP indicator, we see that there is still some energy to continue the upward movement, while the RSI indicator is approaching the upper limit, but we also have some room to go higher.
LTCUSDTLTCUSDT has given the breakout from long term declining trendline and started new bullish trend.
As the market is consistently printing new HHs and HLs.
A retest of previous broken structure is due, if the market successfully sustain the retest it could be a nice buying option .
what you people think of this idea ?
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/USDT Where Now? Hey traders👋
LTC coin is next on our watchlist with a nice potential for some further bearish movement here.
You ask us why? Well first of all LTC had recently small recovery from "Oversold" zones near RSI but after getting rejected at 20EMA indicators seem to be going for another further drop here! which shows lack of volume on bullish side! So we are keeping our eyes on that lower "liquidity grab" zone for potential buy order!
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LTC/USDT 4H Chart ReviewI invite you to review the LTC to USDT chart also on a four-hour interval. At the beginning, we can use the blue lines to mark the downward trend channel in which we move along the lower border.
Let us now move on to determining supports for the LTC price in case the current correction deepens and here we can notice that we are at the support level of $59.12, but if we break out of it below, the next support will be at $55.99.
Looking the other way, similarly using the fib Retracement tool, we can determine the resistance areas that the price must face. And here we see that the first resistance zone is from $61 to $63, then we have the second zone from $64 to $66, then resistance at $68.18, and then strong resistance at $70.69.
The CHOP index indicates that the energy has been used up and is slowly growing, on the RSI we exceed the lower limit, which may end the current correction or slow it down, while looking at the STOCH indicator we see that the energy is running out, which can also give us a moment of rest before further movement.
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.
LTC - Daily Timeframe Update - True Halving After EffectWhen you see how price react to our previous analysis perfectly you wouldn't want to miss this train again.
I believe there is one last low to be created around $52 - $45 and then bulls will reclaim their mandate (Halving After Effect). The last time when the crowd thinks its null time immediately after halving, I said it's bearish now they've given up I say it's about to be bullish.
Let me know how often you want me to keep updating this chart in the comment section and what you think. turn on notification and follow so you don't miss any update too.
Brief Analysis——LTCVolatility in the market fell further over the weekend, with many tokens trading within a range. The brief analysis will continue to review the tokens analyzed in the past. What we choose today is DOT and LTC.
As LTC approached its halving, the price turned from rising to falling. We conducted an analysis on LTC in late July. After this, LTC fell further, giving up most of the gains from the halving.
Starting from Aug.15, consecutive long red candles broke through the original range downwards. While the volume is not amazing, the length of the candle is destructive. LTC turns bearish on a large scale. Afterwards, volatility decreases and price remain fluctuating. Bulls strengthened in the process to prevent further declines. But when the long green candle appeared, the bears quickly destroyed it. The volatility of LTC is greater than most other tokens. The confrontation between bulls and bears is more obvious.
Conclusion: Mostly fluctuation. LTC is near the strong support level 63 currently. So we think even if it turns bearish on a large scale, the bulls will still strengthen in the near term. Likewise, 69 is also a strong resistance level for LTC, which is why the bulls strengthened last week and after the price hit this level, the bears quickly strengthened to defend. So like we said, new resistance level is set at 63 and support level is set at 69.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.