BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Litecoin Price Analysis: LTC Sideways Trading Continues As We Approach Triangle Apex

Litecoin Price Analysis: LTC Sideways Trading Continues As We Approach Triangle Apex

Litecoin dropped by 3.5% over the past 24 hours of trading as it trades at $37.60.
The cryptocurrency continues to trade within the confines of an ascending triangle.

Litecoin saw a 3.5% price drop over the past 24 hours of trading which was largely caused by the fact that Bitcoin also dropped by the same amount. The cryptocurrency is now trading at the lower boundary of an ascending triangle but looks like it might be headed beneath it. 
A break beneath this triangle could see Litecoin headed back toward the $30 level and it is likely to occur if Bitcoin continues to drop over these next few days.
Litecoin Price Analysis
LTC/USD – Daily CHART – SHORT TERM
LTC/USD. Source: TradingView
Market Overview
Analyzing the daily chart above, we can see Litecoin trading within the confines of the ascending triangle. It has been struggling at the resistance of $39 over the past 5-days of trading and since has dropped from here. 
It currently has found support at the lower boundary of the triangle but it looks like it will be headed beneath here.
Short term prediction: NEUTRAL/BEARISH
As we are trading within a triangle, the market can be considered as neutral at this moment in time. However, the RSI is trading beneath the 50 level and it looks like that the sellers will be increasing their momentum over the next few days which will certainly result in Litecoin falling beneath the triangle. If this does occur, Litecoin would be considered bearish.
Toward the downside, the first level of support lies at $36. This is followed with support at $34 and $32.36 which is provided by a downside 1.414 Fibonacci Extension level. Beneath this, support lies at $29.90 which had prevented the market from falling further lower during the March collapse.
If the selling continues, we can expect added support at $28 and $25.40 (downside 1.618 Fib Extension).
Toward the upside, resistance lies at $39 and $40. Above this, resistance lies at $44, $47.70, and $50.
Key Levels
Support: $36, $35, $32, $30, $28, $25.
Resistance: $39, $41, $44, $47.70, $49.33, $50, $52, $54.70, $56.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK
WhatsApp
Telegram

Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News

Please consider to Support BitRss.com!