Crypto Screener Forums Litecoin (LTC) Forcast – Technical Analysis Litecoin (LTC) Technical Analysis – January 2018

This topic contains 3 replies, has 3 voices, and was last updated by margincall margincall 1 year, 5 months ago.

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  • #1215
    admin
    admin
    Moderator

    This is the thread for analysis on the Litecoin markets for the month of January 2018.
     

     

     

     

     

     

     



Viewing 3 replies - 1 through 3 (of 3 total)
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  • #1377
    margincall
    margincall
    Keymaster

    Lets have a look at the longer term view on the Litecoin USD market.

    Litecoin Forecast 18 Jan 2018
    A lot of Litcoin speculators had the rug pulled out from under them when support broke at $240.

    The market did a nice free fall before the bulls stepped in (temporarily)  around $130 and pushed us into the $180 zone where a lot of believers are regaining some hope for a recovery.

    It does look like there might be hope, but it might not be immediate.  I see trading action between $150 and $200 while the market corrects from this drop.

    There could be a few nice plays for those that place their buy orders down into the 130 – 160 zone, with the possibility of some quick profits at 170 -200.

    Being Bitcoins little brother you can look to Bitcoin to see what LTC might do in the near future. Safe trades.

    Please feel free to discuss these trade ideas with us in Discord.

    #1304
    margincall
    margincall
    Keymaster

    Taking a birds eye look at Litecoin, we can see some good action for both the bulls and the bears in the market. Overall in the long term, in my opinion, Litecoin is still extremely bullish, but lets take a look at the technical side.

    litecoin forecast 9 jan 2018
    On the chart we can see that we are currently down trending again against the US Dollar, but we can see the buyers getting in on the action in the lower $200 zones.

    Momentum is still very much bearish (short term), however with very little selling/buying volume at this point I can’t see much bear action in the near future.

    This can change quickly should we see some big hitters selling off LTC, but the last few dips got bought up pretty quickly so I will be looking more towards the direction of the moon on this one.

    Setup at the moment is quite simple, resistance is it 300 for the short term and support at 220 – 230. (Bitstamp)

    Should support break I would expect the next level of support to be at $200. Should the prices break above $300 you could play a long into the 340 – 350 for some quick gains.

    Investors looking to buy LTC for the long term hold could stack orders from here down to $200. Safe trades.

    #1216
    MrHanna
    MrHanna
    Moderator

    Lets take a step back and look at the longer term picture of the Litecoin vs US Dollar market.

    ltcusd market report 3 Jan 2018
    We can see that Litecoin has had about a 50% correction from $400 down to the $200 zone where buyers started stepping in, pushing the prices to $240 at the time of writing this report.

    We are still under pressure from the bears but the bulls have pushed the market a bit since the 1st of Jan and we can see momentum is starting to change.

    I will wait to see what prices the day candle will close at today, should we close below my MA, or below $240, I expect we might test $200 again before testing resistance.

    Should we close above $240 today I am quite bullish on the LTC market and will consider going long in the near future.

    Litecoin is still a great long term hold in my opinion and should we stay above $200 I am sure we will see some more good gains in the future. Safe trades.

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