• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Litecoin Price Technical Analysis for 18/3/2015 – Pressure Mounts

NewsBTC by NewsBTC
7 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Bears have stomped on all bullish expectations as the expected bullish double bottom gets transformed into a bearish Triple Top pattern. The sell-off can be partly attributed to the profit booking in the leading cryptocurrency, Bitcoin. Each Litecoin is currently worth $1.97 and the price may head lower from here on.

Litecoin analysis

Image: https://www.tradingview.com/x/tJjcQlt5/

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Technical analysis implemented on the 240-minute LTC/USD price chart connotes that the value of each Litecoin may drop to $1.88.

Bearish Triple Top Pattern Confirmed – Litecoin had been trading between $1.98-2.08 since March 10, registering 5 major price reversals. As the chart analysis reflects, the sixth reversal never happened and the price closed below the crucial support level. With this breakdown, the focus has shifted to the next support level of $1.88.

MACD – The negative Moving Average Convergence Divergence readings also puncture the bullish sentiments. The MACD value of -0.0097 and the Histogram value of -0.0060 are sufficient to warrant an exit from long positions.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Momentum – The Momentum indicator value of -0.0740 is a worrisome sign. The momentum may continue to favor the sellers if the altcoin is unable to stage a turnaround very soon.

Relative Strength Index – RSI offers no respite either as the value slips to its lowest level of 39.7104 in March. A collapse in the strength index reading makes the currency extremely vulnerable to negative price shocks.

As for the trading strategy, short positions can be built in Litecoin for a target of $1.88 while keeping a strict stop-loss above $2 (closing basis). All long positions must be squared off for now and fresh buying should be postponed until convincing signs of reversal emerge or the currency gets extremely oversold. Market participants must also observe the movement in Bitcoin prices as the leading digital currency continues to have a prominent effect on other altcoins.

Tags: Bearish expectationslitecoinlitecoin marketsLitecoin price analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
NewsBTC

NewsBTC

Related Posts

Bitcoin

TA: Bitcoin Jumps 5%, Why BTC Could Offer Trade Openings On Dips

1 hour ago
Ethereum

TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend

23 hours ago
Bitcoin

TA: Bitcoin Remains In Downtrend, What Could Spark Sharp Upside

1 day ago
Cardano

Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls

2 days ago
Ethereum

TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100

4 days ago
Bitcoin

TA: Bitcoin Recovers Sharply, Why BTC Could Still Struggle Above $20,500

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Metaverse Tokens To Buy In 2022: Apecoin (APE), Floki Inu (FLOKI) and Chronoly (CRNO)

July 5, 2022

Mehracki (MKI), Dash (DASH) and Curve DAO Token (CRV) – 3 Solid Coins to Help You Survive the Crypto Crash

July 4, 2022

GBEX: The exchange token of a “new kind”.

July 4, 2022

Web3 Delight Lagos – Breaking barriers to pave the way for the digital future

July 4, 2022

LBank Exchange Will List DOTORI (DTR) on July 4, 2022

July 4, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.