{"id":41413,"date":"2019-05-06T06:26:02","date_gmt":"2019-05-06T04:26:02","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=41413"},"modified":"2020-02-19T01:30:42","modified_gmt":"2020-02-18T23:30:42","slug":"litecoin-ltc-price-analysis-risk-of-downside-extension-below-70","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-ltc-price-analysis-risk-of-downside-extension-below-70\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Risk of Downside Extension Below $70"},"content":{"rendered":"\n<p><em>Litecoin price failed to gain strength\nabove the $80.00 resistance against the US Dollar. LTC started a fresh decline\nand it could even break the $70.00 support in the near term.<\/em><\/p>\n\n\n\n<p><strong>Key Talking Points<\/strong><\/p>\n\n\n\n<ul><li>Litecoin price failed to break the $80.00\nbarrier and declined recently (Data feed of Kraken) against the US Dollar.<\/li><li>There is a major bearish trend line formed with\nresistance near the $77.60 level on the 4-hour chart.<\/li><li>LTC price recently declined below the $74.80\nsupport and a connecting bullish trend line.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Litecoin Price Analysis (LTC)<\/h2>\n\n\n\n<p>This past week, there were strong gains in bitcoin, but most altcoins such as <a rel=\"noreferrer noopener\" aria-label=\"Ethereum (opens in a new tab)\" href=\"https:\/\/ethereumworldnews.com\/ethereum-price-eth-trading-near-crucial-juncture-versus-bitcoin-btc-2\/\" target=\"_blank\">Ethereum<\/a>, <a rel=\"noreferrer noopener\" aria-label=\"EOS (opens in a new tab)\" href=\"https:\/\/ethereumworldnews.com\/eos-price-turned-sell-on-rallies-versus-usd-btc-and-eth\/\" target=\"_blank\">EOS<\/a>, <a rel=\"noreferrer noopener\" aria-label=\"ripple (opens in a new tab)\" href=\"https:\/\/ethereumworldnews.com\/ripple-xrp-price-could-struggle-to-recover-versus-bitcoin-btc\/\" target=\"_blank\">ripple<\/a>, litecoin and others struggled against the US dollar. The LTC\/USD pair faced a strong selling interest near the $80.00 resistance and recently started a downward move.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/05\/Litecoin_Price_Chart-1-1024x486.png\" alt=\"Litecoin Price Analysis LTC Chart\" class=\"wp-image-41414\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/05\/Litecoin_Price_Chart-1-1024x486.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/05\/Litecoin_Price_Chart-1-300x142.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2019\/05\/Litecoin_Price_Chart-1.png 1828w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Looking at the 4-hour <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"nofollow noreferrer noopener\" aria-label=\" (opens in a new tab)\">chart<\/a>, LTC price topped near the $81.50 level and later declined sharply. There was a break below the $78.00 and $76.00 support levels to push the price back in a bearish zone.<\/p>\n\n\n\n<p>During the decline, the price traded below the $74.80\nsupport and a connecting bullish trend line. Moreover, there was a close below\nthe $75.40 support and the 100 simple moving average (4-hour). <\/p>\n\n\n\n<p>Besides, there was a clear break below the 50% Fib\nretracement level of the last wave from the $65.23 low to $81.48 high. The\nprice declined below $72.50 and recently tested the $71.20 support area.<\/p>\n\n\n\n<p>It seems like the 61.8% Fib retracement level of the last wave\nfrom the $65.23 low to $81.48 high is currently acting as a support. If there\nis a downside break below $71.20, there is a risk of more losses below the\n$70.00 support level.<\/p>\n\n\n\n<p>The next key support is near the $68.00 level, where the\nbulls may appear. On the upside, there is a major bearish trend line formed with\nresistance near the $77.60 level on the same chart. To start a fresh increase\nlitecoin price must break the $74.80 and $77.60 levels. As long as LTC is below\n$74.80, there is a risk of more losses below $70.00.<\/p>\n\n\n\n<p><em>The market data is provided by TradingView.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price failed to gain strength above the $80.00 resistance against the US Dollar. LTC started a fresh decline and it could even break the $70.00 support in the near term. Key Talking Points Litecoin price failed to break the $80.00 barrier and declined recently (Data feed of Kraken) against the US Dollar. There is a major bearish trend line formed with resistance near the $77.60 level on the 4-hour chart. LTC price recently declined below the $74.80 support and [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":41414,"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\/41413"}],"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=41413"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/41413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/41414"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=41413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=41413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=41413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}