Crypto Screener Forums Litecoin (LTC) Forcast – Technical Analysis Litecoin (LTC) Technical Analysis – February 2018 Reply To: Litecoin (LTC) Technical Analysis – February 2018

#1605
margincall
margincall
Keymaster

Litecoin treated us with some nice gains alongside Bitcoin, however cautious traders are booking some profits as the first Litecoin Fork – LCC, enter the crypto world.

LTC vs BTC

LTCUSD Forecast 20 Feb 2018

I am having a look at the performance vs BTC, and as we can see, we are still in a longer term bearish channel, not surprisingly similar to Bitcoin.

Even though we have what seems to be a very clear bull flag on the 1hr it is important to note that selling pressure is quite heavy above 0.0213 btc.

Currently I see resistance at 0.022 btc and if the bulls cannot push prices above that zone the litecoin markets will experience yet another correction.

This was a great little rally for LTC however the longer term bearish trend is still in tact and I will wait for a break above 0.022 before getting to excited about LTC.

LTC vs USD

LTCUSD forecast 20 feb 2018
On the USD charts we can see a similar little bull flag coming up for the LTC market and the market could push even higher should resistance at $250 fail.

Even though momentum is indicating that there is indeed a push from the bulls, I am not entirely happy with the price action on the crypto markets and I am prepared for a possible correction on the shorter term.

With all that said, the market is bullish on the near term with the support around $220 – $240.

Should these levels fail, expect lower prices in the future. Feel free to discuss this trade idea with us on Discord. Safe trades.