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Litecoin (LTC) Price Analysis: Buying Dips Favored

Litecoin Price Analysis Chart

Litecoin price corrected lower
after trading as high as $62.04 against the US Dollar. LTC remains supported on
dips near the $57.00 and $55.80 levels in the near term.

Key Talking Points

  • Litecoin price extended gains above the $60.00
    level and traded as high as $62.04 (Data feed of Kraken) against the US Dollar.
  • There is a major contracting triangle in place with
    resistance at $59.60 on the 4-hour chart.
  • LTC price is likely to find a strong buying interest
    near the $57.00 or $55.80 support levels.

Litecoin Price Analysis (LTC)

After a decent upward move, there was a downside correction in bitcoin, Ethereum, EOS, ripple, litecoin and other altcoins against the US dollar. The LTC/USD pair traded as high as $62.04 and later declined below the $60.00 support level.

Litecoin Price Analysis Chart

Looking at the 4-hour chart, LTC price remained in an uptrend this week and traded above the $60.00 barrier. It traded as high as $62.04 and settled well above the 100 simple moving average (4-hour).

Later, there was a downside correction below the $60.00
support and the 23.6% Fib retracement level of the last wave from the $52.00
low to $62.04 high. The price even broke the $58.00 support level and tested
the key $57.00 support level.

Moreover, the 50% Fib retracement level of the last wave
from the $52.00 low to $62.04 high acted as a strong support. At the outset,
there is a major contracting triangle in place with resistance at $59.60 on the
4-hour chart.

If there is a break above the triangle resistance and the
$60.00 resistance, there could be more gains above the $62.00 level in the near
term. On the downside, there is a crucial support near the $57.00 level and the
100 simple moving average (4-hour).

The next support is near $55.80 and the 61.8% Fib
retracement level of the last wave from the $52.00 low to $62.04 high. Overall,
litecoin price remains supported on dips and it could climb higher once again
as long as LTC buyers continue to protect $57.00 and $55.80.

The market data is provided by TradingView.

The post Litecoin (LTC) Price Analysis: Buying Dips Favored appeared first on Ethereum World News.

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Litecoin (LTC) Price Breaks $60, Can There Be More Upsides?

Litecoin price finally broke the
key $60.00 resistance area against the US dollar. LTC is currently consolidating
above $60.00 and it could continue to move higher.

Key Talking Points

  • Litecoin price climbed higher and broke the
    $58.00 and $60.00 resistances (Data feed of Kraken) against the US Dollar.
  • There was a break above a major contracting triangle
    with resistance at $60.55 on the hourly chart.
  • LTC price remains supported on dips near $60.00
    and it may rise above the $62.00 level.

Litecoin Price Analysis (LTC)

In the past few analysis, we discussed the chances of an upside break above $60.00 in litecoin price against the US Dollar. The LTC/USD pair did gain traction along with bitcoin, Ethereum, EOS and ripple to clear the $58.00 and $60.00 resistance levels.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price even
broke the $61.00 level and settled well above the 100 hourly simple moving
average. A new monthly high was formed near $62.04 and later the price
corrected lower. It declined below the $61.00 level to start a short term
correction.

There was a break below the 23.6% Fib retracement level of
the last wave from the $55.73 low to $62.04 high. However, the $59.00 level
(the previous resistance) acted as a support and protected more losses.

The price also found support near the 50% Fib retracement
level of the last wave from the $55.73 low to $62.04 high. Finally, there was a
fresh upside break above the $60.00 and $60.50 levels.

There was also a break above a major contracting triangle with
resistance at $60.55 on the hourly chart. It opened the doors for more gains,
but the price once again failed near the $62.00 level. In the short term, there
could be a few swing moves above $60.00 before the price makes the next move.

Litecoin price will most likely extend gains above the
$62.00 level. The next key resistance levels are $64.00 and $65.00. However, if
there is a downside break below $60.00, LTC price may revisit the $58.50
support and the 100 hourly SMA.

The market data is provided by TradingView.

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Litecoin (LTC) Price Remains In Uptrend, Eyes Gains Above $60

Litecoin price corrected lower recently,
but it found support near $52.00 against the US dollar. LTC remains in an
uptrend and it could slowly rise towards $58.00 and $60.00.

Key Talking Points

  • Litecoin price is trading nicely above the
    $54.00 and $52.00 support levels (Data feed of Kraken) against the US Dollar.
  • There is a short term breakout pattern in place
    with resistance at $56.50 on the hourly chart.
  • LTC price might dip a few points, but it is
    likely to climb towards $58.00 or $60.00.

Litecoin Price Analysis (LTC)

In the past few sessions, there were range moves in bitcoin, Ethereum, EOS, ripple, litecoin, BNB and other cryptocurrencies against the US dollar. The LTC/USD pair dipped a few points earlier this week, but it found support near the $52.00 level.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price traded
as low as $52.12 and later bounced back above the $54.00 resistance level. The
price even broke the $55.00 level and the 100 hourly simple moving average.

A high was formed at $56.61 and later the corrected a few
points. It declined below the 23.6% Fib retracement level of the last wave from
the $52.12 low to $56.61 high. However, it remained above the $54.00 support level.

Moreover, the 50% Fib retracement level of the last wave
from the $52.12 low to $56.61 high acted as a decent support. At the outset,
there is a short term breakout pattern in place with resistance at $56.50 on
the hourly chart.

Therefore, the price seems to be preparing for the next
break either above $56.50 or below $55.50. An upside break above the $56.50 level
may open the doors for an acceleration towards the $58.00 and $60.00 resistance
levels.

On the other hand, if there is a bearish reaction, litecoin
price is likely to find a strong support near the $54.00 level. The next key
support is at $53.60, below which LTC could revisit the $52.00 support. Overall,
the price may dip a few points, but it remains supported above the $52.00 level.

The market data is provided by TradingView.

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Litecoin (LTC) Price Could Continue To Outperform Bitcoin and Ethereum

Litecoin price remained in an uptrend above the $54.00 support level against the US dollar. LTC is currently consolidating and it is likely to outpace bitcoin and Ethereum in the near term.

Key Talking Points

  • Litecoin price rallied recently above the $54.00 and $56.00 resistance levels (Data feed of Kraken) against the US Dollar.
  • There is a key bullish trend line formed with support at $55.50 on the hourly chart.
  • LTC price is likely to consolidate in the short term before making an attempt to climb above $60.00.

Litecoin Price Analysis (LTC)

This past week, we saw a solid upward move in litecoin price above the $52.00 resistance against the US dollar. The LTC/USD pair gained momentum above the $54.00 resistance and posted heavy gains as compared to bitcoin, ripple, Ethereum, EOS, and other cryptocurrencies.

Litecoin Price Analysis  LTC Chart

Looking at the chart, LTC price even broke the $58.00 resistance and settled above the 100 hourly simple moving average. A new monthly high was formed near the $58.6 level before the pair started a downside correction.

There was a dip below the $55.00 support and the 23.6% Fib retracement level of the last wave from the $44.65 low to $48.67 high. However, losses remain supported above the $54.00 support area and the pair revisited the $59.00 resistance area.

At the moment, the price is consolidating gains above the $54.00 and $55.00 support levels. There is also a key bullish trend line formed with support at $55.50 on the hourly chart.

If there is a downside break below the trend line and $54.00, the pair could test the $51.60 support and the 50% Fib retracement level of the last wave from the $44.65 low to $48.67 high. An intermediate support is near the $53.50 level, which is also a pivot level.

The overall price action is positive for litecoin price above the $54.00 support area. There are high chances of more gains upsides in LTC above the $58.00 and $59.00 resistance levels, especially if other cryptocurrencies gain traction in the near term.

The market data is provided by TradingView.

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Analyst Predicts Litecoin (LTC) Flipping XRP in 2019

An article published on Forbes has made a strong case for Litecoin (LTC), sitting at the fourth largest market capital position, flipping third-ranked XRP by the end of the year.

Despite coin prices across the market still being down 80 percent or more since their last all time high, constituting a “crypto winter,” Litecoin has nearly doubled its value since the start of the year. The coin is trading at $57, as of writing, up from its most recent low in December 2018 of $23 per coin. Along with Binance Coin (BNB), LTC has been a top gainer since the start of 2019.

Bambrough, in his piece published on Forbes, believes that LTC price is responding to strong efforts by the Litecoin Foundation and developers to improve security and privacy for the coin, in addition to culling several high-profile partnerships.

“Litecoin volatility spiked when the Litecoin Foundation announced it’s exploring the integration of Mimblewimble, a protocol offering privacy and fungibility to blockchains,” a report by cryptocurrency brokerage SFOX read this week.

“In March, keep an eye on how privacy news moments impact markets, such as recent revelations over Coinbase’s third-party service provider selling client data.”

Bambrough also highlights LTC’s halving set to occur in August of this year, which will reduce the block reward for miners and thereby increase the scarcity of the coin. Halvings typically produce a bump in coin valuation, given the sudden change in supply, but it will be interesting to see the effects of such a shift if the market is still stuck in the “crypto winter” of the past year.

As for XRP, Bambrough cites a number of negative press events for the coin and associated company Ripple. While the company has been at the heart of several stories of large-scale adoption by financial institution, Bambrough believes that the announcement by J.P. Morgan to create the JPM Coin has soured investor interest in Ripple and XRP.

As reported by EWN, Binance Research has refuted the idea that JPM Coin will compete directly with Ripple or XRP, despite the knee-jerk reaction to believe otherwise. However, Bambrough claims the shifting landscape of cryptocurrency, with positive sentiment currently weighing towards LTC, could be enough for Litecoin to flip XRP by the end of the year. As of writing, LTC has a market capitalization of $3.5 billion compared to XRP’s $13 billion, representing a substantial gap to be overcome.

Still, Bambrough finds reason to be bullish on LTC and its increased real-world use and adoption, quoting a note to clients by eToro’s senior market analyst Mati Greenspan published earlier in the week,

“The number one real-world usage of litecoin it seems is as a settlement method for crypto-traders. For people who often send money from exchange to exchange to private wallets, it’s much cheaper and faster to do this with litecoin than it is with bitcoin.

This is why it indeed deserves the title ‘digital silver’ and with the upcoming halving event in early August, which is likely why it’s been outperforming the rest of the crypto markets lately.”

The crypto markets have experienced on small boost on the day as Bitcoin edges closer to $4000, with both XRP and Litecoin appreciating slightly.

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Litecoin (LTC) Price Analysis: Next Wave Above $60 Likely

Litecoin price rallied recently above $52.00 and $55.00 against the US Dollar. LTC is likely to accelerate further above $60.00 in the near term and it could gain versus BTC as well.

Key Talking Points

  • Litecoin price climbed higher sharply above the $52.00 and $55.00 resistances (Data feed of Kraken) against the US Dollar.
  • There is a short term breakout pattern in place with resistance at $57.20 on the 4-hour chart.
  • LTC price could dip a few points towards $54.00 before a fresh upward move in the near term.

Litecoin Price Analysis (LTC)

After consolidating above the $45.00 support level, litecoin price started a strong upward move against the US dollar. The LTC/USD pair gained traction above the $50.00 pivot level and broke the $52.00 resistance.

Litecoin Price Analysis LTC Chart

Looking at the 4-hour chart, LTC price settled above the $52.00 resistance and the 100 simple moving average (4-hour). It opened the doors for more gains and the price climbed above the $55.00 and $57.00 resistance levels. A new monthly high was formed at $58.64 and later the price started consolidating gains.

It traded below $57.00 and the 23.6% Fib retracement level of the last wave from the $51.12 low to $58.64 high. At the outset, there is a short term breakout pattern in place with resistance at $57.20 on the 4-hour chart.

If there is a break above the $57.20 and $58.00 resistance levels, the price is likely to climb above the $58.60 and $60.00 resistance levels in the near term. The next stop for buyers could be near the $62.50 and $64.00 levels. Any further gains may push the price towards the $65.00 level.

On the other hand, litecoin price could decline a few points towards the $55.00 or $54.00 support levels to fill buy orders. Below $54.00, LTC could even test the $53.40 support level, where buyers may emerge. The current price action is positive and it seems like LTC could gain traction along with bitcoin, binance coin, Ethereum, EOS, ICX, ripple and others in the coming sessions.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Risk Of Further Losses Before Rebound

Litecoin price struggled to break the $50.00 resistance and declined recently against the US dollar. LTC could extend losses towards $44.00 before it could bounce back in the near term.

Key Talking Points

  • Litecoin price topped just below the $50.00 resistance and declined (Data feed of Kraken) against the US Dollar.
  • There was a break below a major bullish trend line with support at $48.00 on the hourly chart.
  • LTC price remains at a risk of more losses towards the $45.00 and $44.00 support levels.

Litecoin Price Analysis (LTC)

After a steady rise above the $45.00 resistance, litecoin price faced sellers near the $50.00 level against the US dollar. The LTC/USD pair started a major decline and broke the $47.50 support level to move into a bearish zone.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price failed to climb above the $49.50 and $50.00 resistances. A swing high was formed at $49.11 and later the price started a downward move. It broke the $48.00 support and the 23.6% Fib retracement level of the last wave from the $42.36 low to $49.11 high.

Moreover, there was a break below a major bullish trend line with support at $48.00 on the hourly chart. It opened the doors for more losses below the $47.00 level and the 100 hourly simple moving average.

The price is currently trading with a bearish angle below $47.50 and it could extend losses towards the $45.00 support. It coincides with the 61.8% Fib retracement level of the last wave from the $42.36 low to $49.11 high.

However, the main support is near the $44.00 level, below which the price may perhaps decline towards the $42.35 swing low. On the upside, an initial resistance is near the $47.00 level and the 100 hourly SMA. To move into a positive zone, the price must surpass the $48.00 resistance zone.

Overall, litecoin price is under pressure below $48.00 and recent bearish moves in Ethereum, ripple, bitcoin, binance coin, EOS, and bitcoin cash could increase selling pressure on LTC in the coming sessions.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Primed For More Gains

Litecoin price traded as high as $33.53 recently and later corrected lower. LTC remains supported on dips and it could bounce back above $33.00 and $35.00.

Key Talking Points

  • Litecoin price struggled to break the $33.50-34.00 resistance and declined (Data feed of Kraken) against the US Dollar.
  • There is a short term breakout pattern formed with resistance at $32.10 on the hourly chart.
  • LTC price remains well supported near $30.00 and it may soon bounce back above $33.00 and $34.00.

Litecoin Price Analysis

Recently, we saw an upward move above the $32.00 resistance in litecoin price against the US dollar. The LTC/USD pair even broke the $33.00 level, but it struggled to break the $33.50-34.00 resistance area.

Looking at the chart, LTC price formed a high at $33.53 and later started a downside move. It broke the $32.00 support and the 23.6% Fib retracement level of the last wave from the $27.50 low to $33.53 high.

However, the decline was protected by the $30.00 support and the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the last wave from the $27.50 low to $33.53 high is also acting as a solid support.

At the outset, there is a short term breakout pattern formed with resistance at $32.10 on the hourly chart. If there is a downside break below the $30.00 support, the price may extend the current decline. The next main support is at $28.90 where buyers are likely to emerge.

On the other hand, if there is an upside break above the triangle, the price may climb toward the $33.50 and $34.00 resistance levels. However, buyers need to clear the $35.00 resistance to start a solid upward move towards $40.00.

Overall, litecoin price is currently consolidating and it seems to be preparing for the next break above $33.50. If LTC fails to hold the $30.00 support, it will most likely invalidate the bullish view and the price might slide back towards $28.50 and $26.50.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Downside Correction Likely Complete

Litecoin price declined recently after it failed near the $37.00 level. LTC is likely to start a fresh upward move above the $32.00 and $34.00 resistances.

Key Talking Points

  • Litecoin price declined recently below the $34.00 support level (Data feed of Kraken) against the US Dollar.
  • There was a break above a short term channel with resistance at $31.00 on the hourly chart.
  • LTC price may continue to trade higher towards the $34.00 or $35.00 resistance levels.

Litecoin Price Analysis

Recently, we discussed the chances of litecoin price testing the $40.00 resistance against the US dollar. The LTC/USD pair did move higher, but it failed to move past the $37.00 resistance.

Looking at the chart, LTC price formed a top near the $36.73 level and later started a downside correction. It declined sharply and broke the $35.00 support level. There was also a close below the $32.00 level and the 100 hourly simple moving average.

The price traded close to the $30.00 level where buyers emerged. A low was formed at $26.69 and later the price starting moving higher. It broke the 23.6% Fib retracement level of the recent decline from the $36.73 high to $26.69 low.

Moreover, there was a break above a short term channel with resistance at $31.00 on the hourly chart. It has cleared the path for a push towards the $33.00 level and the 100 hourly SMA.

The next major resistance is near $33.20 and the 50% Fib retracement level of the recent decline from the $36.73 high to $26.69 low. If there is a break above the $33.00 and $34.00 resistance levels, there could be a solid upward move in the near term.

Overall, litecoin price clearly failed to gain pace above the $37.00 level and declined heavily. Going forward, it must move past the $34.00 resistance to make another attempt. If not, it could revisit the $30.00 support area. Below $30.00, the price may even trade towards the $28.00 support in the short term.

The market data is provided by TradingView.

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Litecoin (LTC) Price Analysis: Primed To Break $40

Litecoin price is gaining bullish momentum above $35.00. LTC is likely to extend gains towards the $40.00 and $42.00 resistance levels in the near term.

Key Talking Points

  • Litecoin price is trading with a bullish bias above the $35.00 resistance (Data feed of Kraken) against the US Dollar.
  • There is a key bullish trend line formed with support at $34.50 on the hourly chart.
  • LTC price may continue to trade higher and it could even break the $40.00 resistance.

Litecoin Price Analysis

During the past few sessions, there were continuous gains above $30.00 in litecoin price against the US dollar. The LTC/USD pair broke the $35.00 resistance level to set the pace for more gains like ripple, Ethereum and EOS.

Looking at the chart, LTC price even broke the $35.80 resistance and it is currently trading well above the 100 hourly simple moving average. The recent high was above the $36.00 level and it seems like there could hardly be any downside correction.

The first support is near $35.20 or the 23.6% Fib retracement level of the recent wave from the $32.18 low to $36.23 high. Below $35.20, there is a key bullish trend line formed with support at $34.50 on the same chart.

The trend line coincides with the 50% Fib retracement level of the recent wave from the $32.18 low to $36.23 high. Therefore, if there is a downside correction, the price is likely to find support near the $35.00 or $34.50 levels.

On the upside, the price is likely to break the $36.30 swing high. The next stop for buyers could be $38.00, above which LTC is likely to visit the $40.00 barrier.

Overall, litecoin price is trading with a lot of strength above the $34.00 level. As long as the price stays above the trend line support and the $33.00 pivot level, LTC could extend gains above the $38.00 level. More importantly, there are high chances of an upside break above the $40.00 barrier in the coming sessions.

The market data is provided by TradingView.

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