2019-3-21 15:39 |
Long-Term Outlook Litecoin Weekly Chart – Source Tradingview.com
A look at the Weekly chart for Litecoin shows that the price is trading below the minor resistance area near $80.
It is trading above the 21 and 200-period moving average but below the 50 and the negative Ichimoku cloud. It is facing very close resistance from the 50-period MA.
It has made five bullish weekly candles in a row The closest resistance area is near $80, coinciding with the edge Ichimoku cloud, while the closest support area is near $28.
The RSI is at 56, indicating neither overbought nor oversold conditions, while the MACD has made a bullish cross and is moving upward and is almost positive.
Medium-Term Outlook Litecoin 3-day Chart – Source Tradingview.comA look at the 3-day shows that the price has finally broken out of the Ichimoku Cloud.
Furthermore, the 21 and 50-period moving averages have made a bullish cross and are offering support to price.
The MACD is into positive territory but seems to be losing strength.
On a negative note, there is some bearish divergence developing in the RSI.
Litecoin Daily Chart – Source Tradingview.comA look at the Daily chart gives us a trading structure.
We can see that the price has been following an ascending support line for the past 101 days.
It also shows us the minor support areas near $49 and $42 and a minor resistance area near $65.
The chart shows a more pronounced bearish divergence in the RSI.
Furthermore, there is some divergence developing in the MACD, which has made a bearish cross and is moving downward.
Short-Term Outlook and Price Prediction Litecoin 6-hour Chart – Source Tradingview.comA look at the 6-hour chart shows that the price has been trading inside an ascending wedge for the past 17 days.
Furthermore, there is a very pronounced bearish divergence developing in the RSI.
Price Prediction:I believe that during the next week the price will break down from the ascending wedge and fall to the support area near $48.
Conclusions: There is resistance near $80 and support near $28. There is a medium-term bearish divergence. The price is trading inside an ascending wedge. Latest Litecoin News:Litecoin [LTC] & Dash Technical Analysis – Is Litecoin Set for a Reversal With a Triple Bearish Divergence?
Litecoin Price Prediction: Did LTC Make a Top?
DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Litecoin Price Prediction: Is LTC Going To Make Another High, or Is This the Top? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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