{"id":9969,"date":"2018-05-01T08:33:02","date_gmt":"2018-05-01T08:33:02","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=9969"},"modified":"2020-02-19T01:30:56","modified_gmt":"2020-02-18T23:30:56","slug":"litecoin-price-analysis-ltc-usd-testing-key-support-2","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-ltc-usd-testing-key-support-2\/","title":{"rendered":"Litecoin Price Analysis: LTC\/USD Testing Key Support"},"content":{"rendered":"<p><em>Litecoin price failed to move above the $155 barrier against the US Dollar. LTC\/USD declined sharply and is currently testing the $142 support.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Litecoin price could not overcome selling pressure around $155 and declined (Data feed of Kraken) against the US Dollar.<\/li>\n<li>There are two connecting bearish trend lines forming with resistance at $148 and $151 on the hourly chart of the LTC\/USD pair.<\/li>\n<li>The pair must stay above the $142 support level to avoid a downside break in the near term.<\/li>\n<\/ul>\n<h2>Litecoin Price Forecast<\/h2>\n<p>Yesterday, we discussed an <a href=\"https:\/\/ethereumworldnews.com\/litecoin-price-analysis-can-ltc-usd-break-155\/\" target=\"_blank\" rel=\"noopener noreferrer\">important resistance near $155<\/a> and $156 in litecoin price against the US dollar. The LTC\/USD pair could not break the stated $155 barrier and started a downside move.<\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">chart<\/a>, there was a sharp reaction after the price was rejected thrice from the $155-156 resistance. It declined and broke the $150 support level along with the 100 hourly simple moving average.<\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-9970\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-1024x514.png\" alt=\"Litecoin Price Analysis LTC\" width=\"1024\" height=\"514\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-1024x514.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-300x151.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart-770x387.png 770w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/05\/Litecoin_Price_Chart.png 1824w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p>The decline was strong and the price traded close to the $142 support zone. An intraday low was formed at $143.18 before the price started consolidating losses. It is currently testing the 23.6% Fib retracement level of the last drop from the $154.34 high to $143.18 low.<\/p>\n<p>There are also two connecting bearish trend lines forming with resistance at $148 and $151 on the hourly chart of the LTC\/USD pair. The second trend line is more important since it coincides with the 50% Fib retracement level of the last drop from the $154.34 high to $143.18 low.<\/p>\n<p>Additionally, the 100 hourly simple moving average is positioned near the $150 level. Therefore, the $150-151 zone is likely to act as a strong barrier for buyers if the price continues to correct higher.<\/p>\n<p>On the downside, the $142 support region holds a lot of importance. LTC price must stay above $142 to avoid further declines toward the $135 and $130 levels.<\/p>\n<p>Overall, the current price action is slightly bearish with a strong support around the $142 level.<\/p>\n<p><em>Trade safe traders and do not overtrade!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price failed to move above the $155 barrier against the US Dollar. LTC\/USD declined sharply and is currently testing the $142 support. Key Talking Points Litecoin price could not overcome selling pressure around $155 and declined (Data feed of Kraken) against the US Dollar. There are two connecting bearish trend lines forming with resistance at $148 and $151 on the hourly chart of the LTC\/USD pair. The pair must stay above the $142 support level to avoid a downside [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":9970,"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\/9969"}],"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=9969"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/9969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/9970"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=9969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=9969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=9969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}