Litecoin Price Analysis: Why LTC/USD reversal under $80 imminent?


  • Litecoin price endures the push by the sellers to afloat above $80 following the rejection from $80.
  • Litecoin remains in the bullish hands after the recent reversal embraced support at $78, the trendline and the 50 SMA.

Spot rate: $81.37

Relative change: 0.8663

Percentage change: 1%

Trend: Bullish (short term)

Volatility: Expanding

LTC/USD daily chart

Litecoin price is pushing for consolidation above $80. The ability to defend $80 will determine how fast the bulls can relaunch the attack towards $100. However, danger lurks in the ‘dark’ with the formation of a rising wedge pattern. If the resistance at $85 is not cleared, Litecoin’s potential for a reversal will remain high. This means that sellers could trim the accrued gains until LTC finds credible support at $60 if not $70.

LTC/USD 1-hour chart

Short term technical analysis shows Litecoin bulls taking over control from the bears. LTC is bouncing off the support provided by an ascending trendline in conjunction with the 50SMA. A short term resistance at $80 must come down for LTC to tackle higher levels at $85 and then trend towards $100.

XRP/USD

Overview
Today last price 0.3246
Today Daily Change -0.0026
Today Daily Change % -0.79
Today daily open 0.3272
 
Trends
Daily SMA20 0.2619
Daily SMA50 0.2324
Daily SMA100 0.2326
Daily SMA200 0.2556
 
Levels
Previous Daily High 0.3395
Previous Daily Low 0.2999
Previous Weekly High 0.2878
Previous Weekly Low 0.2356
Previous Monthly High 0.254
Previous Monthly Low 0.1846
Daily Fibonacci 38.2% 0.3244
Daily Fibonacci 61.8% 0.3151
Daily Pivot Point S1 0.3049
Daily Pivot Point S2 0.2826
Daily Pivot Point S3 0.2653
Daily Pivot Point R1 0.3445
Daily Pivot Point R2 0.3618
Daily Pivot Point R3 0.3841

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bart Simpson pattern implies BTC price manipulations

Bitcoin volatility jumped to November 2019 high amid a sudden price collapse during US trading hours on Wednesday. Bloomberg reports that amid the price decline, 10-days volatility surged to 65%, while the 30-days volatility in the highest since January 28 at 35.40%.

More Bitcoin News

Ethereum Price Analysis: ETH/USD creates double-top formation, risks further sell-off

Ethereum (ETH) now the second-largest digital asset with the current market value of $28.3 billion, has lost nearly 8% in recent 24 hours to trade at $256.0 at the time of writing.

More Ethereum News

LTC/USD breakdown could test $65 ahead of recovery to $100

Litecoin has been posting frequent gains ever since the price broke above the long term resistance trendline that started in June 2019. The recovery has also remained within the confines of an ascending channel.

More Litecoin News

Bitcoin Cash Price Analysis: BCH/USD desperately searches for support, breakdown to $350 looms

The cryptocurrency assets suffered another massacre on Wednesday during the American session. The mid-week recovery posted on Tuesday through to Wednesday turned out to be a bull trap.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP