• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF

Litecoin Price Weekly Analysis – Major Reversal

Aayush Jindal by Aayush Jindal
8 years ago
in Technical analysis
Reading Time: 2 mins read

Key Highlights

  • Litecoin price surged higher and traded close to $9.00 where there was a major selling interest.
  • The price declined heavily and fell by more than 25% to trim most of its gains.

Buyers managed to take prices higher, but they failed to maintain gains which ignited a downside reaction.

Litecoin price once again moved higher as forecasted in this past week’s weekly analysis. There was a sharp upside move taking the price towards $9.00. The price failed miserably around the mentioned resistance area, which ignited a downside move.

Importance of a bullish trend line

There is a bullish trend line formed on the 4-hours chart, which is acting as a support for the price and might continue to help buyers. The best part is the fact the 100 simple moving average on the 4 hours chart is aligned with the highlighted bullish trend line. Moreover, the Lower Bollinger Band is also sitting around the recent low of $2.71. In short, the stated level might turn out to be a major support area in the short term, and if it holds a correction is likely.

Litecoin

However, it would be very tough for buyers to take the price higher to a great extent. On the upside, an initial hurdle is around the 38.2% Fib retracement level of the last drop from $8.90 to $2.71. Furthermore, the 50% Fib level is colliding with the Middle Bollinger Band, which means $6.34 is a major resistance zone. As long as the price is above the 100 SMA (H4), a minor correction is very likely.

Intraday Support Level – $2.74

Intraday Resistance Level – $5.72

The H4 RSI is around oversold reading, which supports the view of a correction. On the other hand, the MACD is under a divergence signaling more losses.

 

Charts courtesy of Trading View

Tags: Litecoinlitecoin price reversallitecoin price weekly analysisprice moved lower
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

XRP

XRP Community And Cardano Founder Engage In Heated Clash

1 hour ago
XRP price prediction

XRP Price Set For 20% Leap In Coming Days: Crypto Analyst

10 hours ago
Dogecoin Price

Dogecoin Price Prediction – Will DOGE Bulls Be Able To Hit $0.092?

13 hours ago
Ethereum Price

Ethereum Price Recovers, Why 100 SMA Is The Key To Fresh Increase

14 hours ago
Bitcoin

Bitcoin Price Avoids Collapse But Can Bulls Clear This Major Hurdle?

15 hours ago
XRP

Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6

22 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Terra Luna and Cardano Holders Pivot to New Crypto Token...

    2 hours ago
  • Bitcoin Aims Again for $38,000 Mark; Mantle & Borroe...

    3 hours ago
  • Investing in SCORP: A Comprehensive Guide for Newcomers to...

    4 hours ago
  • $BTC Sender Pays $3.1 Million in Single Transaction Fee...

    7 hours ago
  • SEC Calls $ADA and $SOL “Securities” in New Kraken...

    1 day ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 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.