{"id":11042,"date":"2018-05-18T09:25:43","date_gmt":"2018-05-18T08:25:43","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=11042"},"modified":"2020-02-19T01:30:55","modified_gmt":"2020-02-18T23:30:55","slug":"litecoin-price-analysis-ltc-usds-support-turned-resistance","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-ltc-usds-support-turned-resistance\/","title":{"rendered":"Litecoin Price Analysis: LTC\/USD\u2019s Support Turned Resistance"},"content":{"rendered":"<p><em>Litecoin price failed to stay above the $134 support and declined against the US Dollar. LTC\/USD traded towards $128 and is currently correcting higher.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Litecoin price faced an increased selling pressure and declined below the $135 support (Data feed of Kraken) against the US Dollar.<\/li>\n<li>There is a crucial bearish trend line forming with resistance at $134.50 on the hourly chart of the LTC\/USD pair.<\/li>\n<li>The pair is currently correcting higher, but the previous support near $135 may act as a resistance.<\/li>\n<\/ul>\n<h2>Litecoin Price Forecast<\/h2>\n<p>There was no upside break above $142 in litecoin price against the US dollar. The LTC\/USD pair faced an increased selling pressure around $140-142, which resulted in a sharp downside move.<\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">chart<\/a>, the failed to move above $142 and the 100 hourly simple moving average. It dropped and moved below the $135, $134 and $130 levels. It traded close to the $128 level and a low was formed at $128.84.<\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-11043\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13-1024x514.png\" alt=\"Litecoin Price Analysis LTC USD\" width=\"1024\" height=\"514\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13-1024x514.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13-300x151.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13-770x387.png 770w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-13.png 1824w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p>Later, the price started consolidating around $128 and it moved above the 23.6% Fib retracement level of the last drop from the $141.42 high to $128.84 low. However, there are many hurdles on the upside near $135.<\/p>\n<p>The stated $135 level was a support earlier and now it may well stop gains. There is also a crucial bearish trend line forming with resistance at $134.50 on the hourly chart of the LTC\/USD pair.<\/p>\n<p>Moreover, the 50% Fib retracement level of the last drop from the $141.42 high to $128.84 low is at $135.13, which is another major resistance. Therefore, if the price moves higher, it will most likely face a strong resistance near the $135 level.<\/p>\n<p>Should there be an upside break above $135, the price may move towards the $142 resistance and the 100 hourly SMA. On the downside, the recent low of $128.84 is a short term support. The next major support on the downside sits around the $120 level, which is likely to prevent further declines.<\/p>\n<p><em>The market data is provided by TradingView.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price failed to stay above the $134 support and declined against the US Dollar. LTC\/USD traded towards $128 and is currently correcting higher. Key Talking Points Litecoin price faced an increased selling pressure and declined below the $135 support (Data feed of Kraken) against the US Dollar. There is a crucial bearish trend line forming with resistance at $134.50 on the hourly chart of the LTC\/USD pair. The pair is currently correcting higher, but the previous support near $135 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":11043,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[824],"tags":[188,161,111],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/11042"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=11042"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/11042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/11043"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=11042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=11042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=11042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}