{"id":6827,"date":"2018-02-16T09:25:41","date_gmt":"2018-02-16T09:25:41","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=6827"},"modified":"2018-02-16T09:27:08","modified_gmt":"2018-02-16T09:27:08","slug":"litecoin-price-analysis-ltc-usd-correcting-lower","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-ltc-usd-correcting-lower\/","title":{"rendered":"Litecoin Price Analysis: LTC\/USD Correcting Lower"},"content":{"rendered":"<p><i><span style=\"font-weight: 400\">Litecoin price formed a short-term high near the $236 level against the US Dollar. LTC\/USD is currently correcting lower towards the $205-200 support area.<\/span><\/i><\/p>\n<p><b>Key Talking Points<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Litecoin price failed to move further above the $235 level and corrected lower (Data feed of Kraken) against the US Dollar.<\/span><\/li>\n<li><span style=\"font-weight: 400\">There is a declining channel forming with resistance at $220 on the hourly chart of the LTC\/USD pair.<\/span><\/li>\n<li><b><span style=\"font-weight: 400\">The pair may correct a few more points, but the $200 support is likely to prevent declines.<\/span><\/b><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400\">Litecoin Price Forecast<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Yesterday, we saw a decent upside move in litecoin price above the $200 level against the US dollar. The LTC\/USD pair traded as high as $236 before it faced sellers and started a short-term downside correction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The pair moved down and traded below the $220 support and the 23.6% Fib retracement level of the last wave from the $179 low to $236 high. The downside move was substantial as the price almost tested the $200-205 support area.<\/span><\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-6828\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1.png\" alt=\"Litecoinprice chart\" width=\"1822\" height=\"925\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1.png 1822w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1-300x152.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1-1024x520.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/02\/Litecoin_Price_Chart-1-1-770x391.png 770w\" sizes=\"(max-width: 1822px) 100vw, 1822px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400\">At the moment, it seems like there is a declining channel forming with resistance at $220 on the hourly chart of the LTC\/USD pair. The current downside move seems to be corrective in structure as long as the price is above the $200 level.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The pair already tested the 50% Fib retracement level of the last wave from the $179 low to $236 high. It is a positive sign, but the price has to break the channel resistance at $220 to gain upside momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Once there is a close above the $220 level, the price may resume its uptrend. Above $220, the price has to break the $235-236 resistance to rise further towards $250 in the near term.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the downside, the $208 level is an initial support followed by $205. Below $205, the $200 level could be tested, which is also the 61.8% Fib retracement level of the last wave from the $179 low to $236 high. <\/span><\/p>\n<p><span style=\"font-weight: 400\">A break below the $200 support could ignite more declines toward the $180 level.<\/span><\/p>\n<p><i><span style=\"font-weight: 400\">Trade safe traders and do not overtrade!<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price formed a short-term high near the $236 level against the US Dollar. LTC\/USD is currently correcting lower towards the $205-200 support area. Key Talking Points Litecoin price failed to move further above the $235 level and corrected lower (Data feed of Kraken) against the US Dollar. There is a declining channel forming with resistance at $220 on the hourly chart of the LTC\/USD pair. The pair may correct a few more points, but the $200 support is likely [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":6828,"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\/6827"}],"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=6827"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/6827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/6828"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=6827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=6827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=6827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}