{"id":22722,"date":"2018-10-12T05:04:40","date_gmt":"2018-10-12T04:04:40","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=22722"},"modified":"2020-02-19T01:30:49","modified_gmt":"2020-02-18T23:30:49","slug":"litecoin-price-analysis-ltc-usd-bearish-continuation-likely","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-ltc-usd-bearish-continuation-likely\/","title":{"rendered":"Litecoin Price Analysis: LTC\/USD Bearish Continuation Likely"},"content":{"rendered":"<p><em>Litecoin price extended slides below the $51.00 level against the US Dollar. LTC\/USD traded below $50.00 and it is currently correcting higher towards resistances.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Litecoin price failed to correct substantially and declined below $51.00 (Data feed of Kraken) against the US Dollar.<\/li>\n<li>There is a short-term bearish flag pattern forming with resistance at $52.00 on the hourly chart of the LTC\/USD pair.<\/li>\n<li>LTC price is currently correcting higher, but upsides are likely to be capped near $52.00 and $53.75.<\/li>\n<\/ul>\n<h2>Litecoin Price Forecast<\/h2>\n<p>Yesterday, we saw a major downside below $55.00 in litecoin price against the US dollar. The LTC\/USD pair later corrected higher, but upsides were limited and the price resumed its decline below the $52.00 level.<\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/10\/Litecoin_Price_Chart-9.png\"><img decoding=\"async\" width=\"1024\" height=\"493\" class=\"alignnone size-large wp-image-22723\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/10\/Litecoin_Price_Chart-9-1024x493.png\" alt=\"Litecoin Price Analysis LTC Chart\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/10\/Litecoin_Price_Chart-9-1024x493.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/10\/Litecoin_Price_Chart-9-300x144.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/10\/Litecoin_Price_Chart-9.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=\"noopener noreferrer nofollow\">chart<\/a>, LTC price declined further and broke the $51.00 and $50.00 levels. The price traded to a new weekly low at $49.81 and it is still trading well below the 100 hourly simple moving average.<\/p>\n<p>At the moment, the price is correcting higher above the $50.00 level. An initial resistance is near the 23.6% Fib retracement level of the last slide from the $57.67 high to $49.81 low. More importantly, there is a strong resistance formed near $52.00.<\/p>\n<p>There is also a short-term bearish flag pattern forming with resistance at $52.00 on the hourly chart of the LTC\/USD pair. Should the price break the channel resistance, it could correct higher towards the $53.75 and $54.00 resistance levels.<\/p>\n<p>Moreover, the 50% Fib retracement level of the last slide from the $57.67 high to $49.81 low is near the $53.75 level to act as a solid hurdle for buyers.<\/p>\n<p>On the flip side, if the price breaks down again below the channel support and $50.00, there could be sharp downsides. The next major support below $50.00 is observed near the $47.00 level.<\/p>\n<p>Overall, the current structure is pointing more declines in litecoin price as long as the price is below $54.00. A convincing break and close above $54.00 and $55.00 is needed for a trend change.<\/p>\n<p><em>The market data is provided by TradingView.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price extended slides below the $51.00 level against the US Dollar. LTC\/USD traded below $50.00 and it is currently correcting higher towards resistances. Key Talking Points Litecoin price failed to correct substantially and declined below $51.00 (Data feed of Kraken) against the US Dollar. There is a short-term bearish flag pattern forming with resistance at $52.00 on the hourly chart of the LTC\/USD pair. LTC price is currently correcting higher, but upsides are likely to be capped near $52.00 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":22723,"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\/22722"}],"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=22722"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/22722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/22723"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=22722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=22722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=22722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}