TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

Litecoin technical analysis: LTC/USD is sitting just above critical support of a flag structure to the downside

  • Litecoin price on Monday is trading in positive territory by 0.70% in the second half of the session. 
  • LTC/USD continues to move within a bearish flag structure, as the price sits just above the lower acting trend line. 
  • Litecoin versus is peers is somewhat outperforming, as the market is generally trading in the red. 
Litecoin technical analysis: LTC/USD is sitting just above critical support of a flag structure to the downside
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  75.15

Relative change:      +0.70%

High:                         74.19

Low:                          71.65

LTC/USD daily chart

  • Price action via the daily chart view is moving within a bearish flag structure, subject to a potential breach.

LTC/USD 60-minute chart

  • LTC/USD via the 60-minute chart view is heading back for a retest of a breached range, $72.50-71.50.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

Top 3 Price Prediction: BTC consolidates gains, ETH defends support, XRP nears breakout trigger

Top 3 Price Prediction: BTC consolidates gains, ETH defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

Ethereum Price Forecast: ETH struggles below $1,700 amid subdued on-chain users and capital outflows

Ethereum Price Forecast: ETH struggles below $1,700 amid subdued on-chain users and capital outflows

Ethereum rises, albeit gradually, toward $1,700. The smart contract token reflects a marginal increase in buyers seeking to re-engage at lower price levels, following the massive drawdown from mid-May, which was largely driven by geopolitical tensions in the Middle East and macroeconomic uncertainty.

XRP clings to support as derivatives interest cools

XRP clings to support as derivatives interest cools

Ripple hangs on to $1.14 support, extending its rebound from its early-week support at $1.10 and June’s low of $1.05. Maintaining this short-term support level is vital for the remittance token to preserve its bullish momentum, with a decisive breakout above $1.20 likely to signal further upside potential.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels. Bitcoin hovers around $63,500 amid a capped upside. Ethereum eyes a breakout past $1,700, while XRP hovers above $1.40.
Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.