Lorenzo Stroe
Independent Analyst
- LTC/USD is trading right in the middle of the equilibrium pattern.
- A clear break of $48 would push Litecoin above $50.
Litecoin is trading at $46.46 at the time of writing, practically in the middle of the current daily equilibrium pattern. Buyers are waiting for a clear break above $48 and sellers for a drop below $45. It’s important to note that Litecoin is still in a daily uptrend which should favor the bulls coming out of the current pattern. Litecoin is also holding both daily EMAs.
LTC/USD daily chart
-637272156345640609.png)
Litecoin is clearly still strong on the daily chart holding the 12-EMA several times in a row. The resistance level to beat is at $48.07, the last clear lower high. Sellers need to break $45.09, both levels are marked with a pink horizontal line in the chart. Litecoin is also in a symmetrical triangle that will most likely be broken when there is a clear breakout of the equilibrium pattern.
LTC/USD 4-hour chart
-637272156528627048.png)
Bulls are a bit more worried here as they have lost the uptrend and also the 12-EMA and the 26-EMA which have crossed bearishly. This is the first time they cross bearish since May 24, however, it only took Litecoin three days to climb back above the EMA’s and saw another bullish cross on May 28.
LTC/USD technical levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple on-chain metrics show bullish signs amidst legal struggle with SEC, XRP eyes recovery
Ripple made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss have turned bullish, supporting a recovery in the altcoin.
Bitcoin price falls amidst German government transfers, miners activity
Bitcoin (BTC) extends correction on Wednesday and hovers around $61,000 after finding resistance near the $64,000 level on Monday. Recent on-chain data indicates heightened selling activity from Bitcoin miners early in the week.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened. Ripple holds on to recent gains and hovers above $0.48 on Wednesday.
Three reasons why altcoins could shake off losses this week
On-chain data from Santiment shows that altcoins are currently in the opportunity zone, or generating buy signals. The top three altcoins in the buy zone are Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH), per Santiment.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.