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
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.