{"id":19007,"date":"2018-08-31T06:12:09","date_gmt":"2018-08-31T05:12:09","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=19007"},"modified":"2020-02-19T01:30:52","modified_gmt":"2020-02-18T23:30:52","slug":"litecoin-price-analysis-ltc-usd-could-bounce-back-soon","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-ltc-usd-could-bounce-back-soon\/","title":{"rendered":"Litecoin Price Analysis: LTC\/USD Could Bounce Back Soon"},"content":{"rendered":"<p><em>Litecoin price declined a few points towards the $59.00-60.00 support against the US Dollar. LTC\/USD remains supported above $59.00 and it could bounce back above $62.00.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Litecoin price extended its downside correction below the $60.00 level (Data feed of Kraken) against the US Dollar.<\/li>\n<li>There is a significant bullish trend line with current support at $59.20 on the hourly chart of the LTC\/USD pair.<\/li>\n<li>LTC price is holding a couple of important supports near the $58.50 and $59.20 levels.<\/li>\n<\/ul>\n<h2>Litecoin Price Forecast<\/h2>\n<p>Yesterday, there was a short-term downside correction initiated from the $63.80 swing high in litecoin price against the US dollar. The LTC\/USD pair corrected lower and even spiked below the $60.00 support.<\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-22.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-19008\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-22-1024x496.png\" alt=\"Litecoin Price Analysis LTC USD\" width=\"1024\" height=\"496\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-22-1024x496.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-22-300x145.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-22.png 1828w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">chart<\/a>, LTC price declined and broke the $60.00 and $59.20 support levels. There was even a break below the 61.8% Fib retracement level of the last upside move from the $56.88 low to $63.80 high.<\/p>\n<p>However, losses were protected by the $58.50 support and the price moved back above the 100 hourly simple moving average. The price is now trading above the 23.6% Fib retracement level of the recent slide from the $63.80 high to $58.63 low.<\/p>\n<p>On the downside, there is a significant bullish trend line with current support at $59.20 on the hourly chart of the LTC\/USD pair. Below the trend line, the $58.50 support area is the last line of defense before the next support at $56.00.<\/p>\n<p>On the upside, the price may face sellers near the $61.20 level and the 50% Fib retracement level of the recent slide from the $63.80 high to $58.63 low. There is also a connecting bearish trend line with resistance near the $61.60 level.<\/p>\n<p>A break above the trend line resistance and $62.00 could push the price towards the $63.00 and $64.00 levels in the near term.<\/p>\n<p>Overall, litecoin price decline was stopped near a crucial support near $59.00. Therefore, it could recover in the short term towards the $62.00 and $64.00 levels.<\/p>\n<p><em>The market data is provided by TradingView.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price declined a few points towards the $59.00-60.00 support against the US Dollar. LTC\/USD remains supported above $59.00 and it could bounce back above $62.00. Key Talking Points Litecoin price extended its downside correction below the $60.00 level (Data feed of Kraken) against the US Dollar. There is a significant bullish trend line with current support at $59.20 on the hourly chart of the LTC\/USD pair. LTC price is holding a couple of important supports near the $58.50 and [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":19008,"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\/19007"}],"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=19007"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/19007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/19008"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=19007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=19007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=19007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}