Defimood
  • Market analysis
    • Cryptocurrencies – Trading Education
    • DeFi market analysis
    • Bitcoin analysis
    • Crypto Coin Analysis
    • Stock Market
  • General strategy
    • Long-term strategy
    • Medium-term strategy
    • Short-Term Strategy
  • Copy trading
    • Binance Copy Trading – Earn Safely!
    • Bitget copy trading
      • Short-term strategy
      • Medium-term strategy
      • How to set it up correctly?
  • Deposit management
  • About us
    • Contact with us
    • P_S_trade – who we are, where from and why?
    • Assistance to Ukraine
    • Portfolio
    • Marathon for Million
      • Marathon №3 “Marathon for Million”
      • Crypto Trading – “Marathon For Million” Statistics
      • Marathon І. Battle of two styles.
      • Trade marathon №2 “deposit +150%”
  • Українська
  • English
Archives
  • June 2022
  • May 2022
  • April 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
Categories
  • Bitcoin analysis
  • Crypto Coin Analysis
  • Cryptocurrencies – Trading Education
  • DeFi market analysis
  • Stock Market
Defimood

Cryptotrading,
investments in cryptocurrency,
crypto portfolio management

Defimood
  • Market analysis
    • Cryptocurrencies – Trading Education
    • DeFi market analysis
    • Bitcoin analysis
    • Crypto Coin Analysis
    • Stock Market
  • General strategy
    • Long-term strategy
    • Medium-term strategy
    • Short-Term Strategy
  • Copy trading
    • Binance Copy Trading – Earn Safely!
    • Bitget copy trading
      • Short-term strategy
      • Medium-term strategy
      • How to set it up correctly?
  • Deposit management
  • About us
    • Contact with us
    • P_S_trade – who we are, where from and why?
    • Assistance to Ukraine
    • Portfolio
    • Marathon for Million
      • Marathon №3 “Marathon for Million”
      • Crypto Trading – “Marathon For Million” Statistics
      • Marathon І. Battle of two styles.
      • Trade marathon №2 “deposit +150%”
  • Українська
  • English
  • Crypto Coin Analysis

Litecoin (LTC): Maximum High Has Been Reached – Is It Time To Relax?

  • 12.05.2021
Total
0
Shares
0
0
0
0
0

Quite an interesting and tense situation has happened on the Litecoin (LTC) market since 5 May. In fact, since December 2020, the LTCUSDT price has politely moved within the white growth channel. During this time, sellers tested the lower trend line of this channel 4 times, and buyers – the upper one. The fourth attempt by buyers to break the upper trend line up continues right now. If you look at the daily timeframe, you see that the main problems for buyers with continued growth began at approximately $335:

Це зображення має порожній атрибут alt
Source: trading view

Why is the level of $335 so important for Litecoin?

This mark was the all-time high at the end of April. It was from this level that the Litecoin price began a correction and fell by almost 40%. Therefore, it is this mark that can become both a foothold for buyers to accelerate the growth trend, and the beginning of a new fall wave.
On the daily timeframe, we see that buyers fought off sellers’ attack several times and kept this mark. However, above the global trend line, sellers set up a sell-off zone and do not allow the LTCUSD price to grow. This consolidation on high volumes is more reminiscent of the growth end and a change in forces in the Litecoin market. This will be our main scenario for now.

The LTCBTC pair chart suggests a correction

In order to better understand the general situation on the LTC market, it is worth analyzing the LTCBTC pair chart. The history of this chart goes back to 2013:

Litecoin

At the moment, on the weekly timeframe, we see that buyers managed to break the long-standing fall channel and test the important range of 0.0065-0.0068. The chart shows that this range kept the LTCBTC price in 2017, 2018 and 2019. The loss of control over this range in 2019 led to a protracted downward trend for almost 2 years. Therefore, in our opinion, the probability of breaking this range up the first time is small. To continue the LTCBTC price growth, buyers need to keep the mark of 0.051.

Given the high probability of the BTC market correction continuation, we would not buy Litecoin in this price range. However, a high-risk trade with a stop below $335 has the right to live. In this case, a positively-minded trader should wait for the breakout of the white growth channel upward and the test of $640. Though, for us, this is an alternative scenario that has not yet been confirmed.

Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Related Topics
  • Litecoin
  • LTC price analysis
  • LTCUSDT
You May Also Like
View Post
  • Crypto Coin Analysis

LTC cryptocurrency is the main target of $135

  • defimood
  • 24.06.2022
View Post
  • Crypto Coin Analysis

ETH cryptocurrency – only above $1250 you can confidently buy

  • defimood
  • 22.06.2022
View Post
  • Crypto Coin Analysis

USDT Cryptocurrency: Is It Worth Panicking For Tether Reliability?

  • defimood
  • 17.06.2022
View Post
  • Crypto Coin Analysis

Cryptocurrency MATIC – below $0.29 should be forgotten for a coin

  • defimood
  • 16.06.2022
View Post
  • Crypto Coin Analysis

ETH cryptocurrency – buyers did not keep $ 1250

  • defimood
  • 15.06.2022
View Post
  • Crypto Coin Analysis

ETH cryptocurrency – the risk of falling to $1200

  • defimood
  • 10.06.2022
View Post
  • Crypto Coin Analysis

DYDX Cryptocurrency – weakness and the possibility of falling to $1

  • defimood
  • 09.06.2022
View Post
  • Crypto Coin Analysis

Volt Cryptocurrency forecast for Whitebit users

  • defimood
  • 08.06.2022
Categories
  • Bitcoin analysis (29)
  • Crypto Coin Analysis (94)
  • Cryptocurrencies – Trading Education (2)
  • DeFi market analysis (25)
  • Stock Market (3)
Featured Posts
  • 1
    Cardano (ADA): Is It Real To See The Price Of $1.5 Again?
    • 17.05.2021
  • 2
    KCS cryptocurrency – Step-by-step long-term investment #3
    • 06.01.2022
  • 3
    Bitcoin forecast – what is needed from BTC to start the alt season🔥
    • 09.12.2021
  • 4
    BTC forecast and thoughts aloud for the next 6 month #2
    • 25.01.2022
  • 5
    Bitcoin Forecast: Scenario For Half A Year
    • 19.10.2021

Subscribe

Subscribe now to our newsletter

Defimood
  • Market analysis
  • General strategy
  • Copy trading
  • Deposit management
  • About us
  • Українська
  • English
криптотрейдинг, инвестиции в криптовалюту

Copyright © 2021 defimood.com All Rights Reserved.

Input your search keywords and press Enter.