• Latest
  • Trending
Litecoin: How traders can capitalize on this ‘ideal’ buy entry

Litecoin: How traders can capitalize on this ‘ideal’ buy entry

October 15, 2021
Crypto Jobs: Who’s Cutting and Hiring?

Crypto Jobs: Who’s Cutting and Hiring?

June 28, 2022
BTC, ETH share spotlight while XRP struggles

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Summertime bull-run a multi-year bear market? – FXStreet

June 28, 2022
How Dogecoin Volatility Can Help Traders Turn a Profit

How Dogecoin Volatility Can Help Traders Turn a Profit

June 28, 2022
Anchorage Digital Announces Ethereum Staking For Institutions

Anchorage Digital Announces Ethereum Staking For Institutions

June 28, 2022
Coinbase Ignites Crypto Rallies After Listing Several Altcoins Built on Ethereum and Solana

Coinbase Ignites Crypto Rallies After Listing Several Altcoins Built on Ethereum and Solana

June 28, 2022
Bitcoin and Ethereum Prices Rallied This Week. It Won’t Last, According to These Experts

Bitcoin and Ethereum Prices Rallied This Week. It Won’t Last, According to These Experts

June 28, 2022
Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

June 28, 2022
🟢COMPRAS de BITCOIN por TRON pero ❌CUIDADO con USDD

🟢COMPRAS de BITCOIN por TRON pero ❌CUIDADO con USDD

June 28, 2022
Are custodied crypto funds at risk? Industry veterans explain

Are custodied crypto funds at risk? Industry veterans explain

June 28, 2022
What Is FUD? Understanding Crypto Acronyms – CoinDesk

What Is FUD? Understanding Crypto Acronyms – CoinDesk

June 28, 2022
Can Cardano’s July hard fork prevent ADA price from plunging 60%?

Can Cardano’s July hard fork prevent ADA price from plunging 60%?

June 28, 2022
Most Powerful Crypto Miners in the World released by

Bitramo 3nm ASIC Miners new Crypto trend

June 28, 2022
OOF CRYPTO
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO
OOF CRYPTO
No Result
View All Result

Litecoin: How traders can capitalize on this ‘ideal’ buy entry

by oof_pj
October 15, 2021
in Litecoin
0


Disclaimer: The findings of the next evaluation are the only opinions of the author and shouldn’t be taken as funding recommendation

Litecoin’s near-term outlook appeared favorable because the alt closed in on an ascending triangle breakout. A northbound RSI, bullish crossover on the Directional Motion Index, and an uptick in 24-hour buying and selling volumes backed such predictions.

Nonetheless, some near-term bearishness would start to seep if LTC fails to shut above the higher trendline. Sellers would wish to focus on a detailed under $166.2 as a way to negate a bullish consequence and implement a breakout in the other way.

Litecoin 4-hour Chart

Supply: LTC/USD, TradingView

A collection of upper lows since 4 October together with regular highs round $187 had been used to chart an ascending triangle setup for LTC. The sample units up the priority for an upwards breakout as promoting strain steadily diminishes and the alt tackles the higher trendline. Now, the formation of two crimson candles offered a super purchase entry on the 50-EMA (yellow).

YOU MAY ALSO LIKE

Bitramo 3nm ASIC Miners new Crypto trend

Elevate The Status Of Your Portfolio By Investing In Gnox (GNOX), Bitcoin (BTC) And Litecoin (LTC)

The belief was that LTC would rebound from this transferring common line and formulate one other assault at $187.27. A detailed above this ceiling can permit bulls to march on ahead to the rapid 61.8% and 78.6% Fibonacci Extension ranges. LTC might additionally tag its 100% Extension above $210 in case bulls are in a position so as to add to the rising 24-hour buying and selling volumes.

Now, if LTC closes under the confluence of the 50-EMA and the $176-support, a more moderen low may be anticipated round $170.

Alternatively, LTC would lose its bullish thesis if bears slice under $166.24. Following a breakdown from the sample, assist ranges of $157 and $153 would come beneath the highlight.

Reasoning

For now, fears of a breakdown appear to be uncalled for as per the RSI and DMI. Though the RSI famous a slight downtick, it nonetheless traded above the mid-line. The Directional Motion Index’s bullish crossover can be anticipated to dissuade any near-term bearish positions.

Having stated that, an early breakout appears unlikely as nicely. This argument may be supported by a weakening MACD which highlighted receding bullish momentum.

Conclusion 

Litecoin may be anticipated to type a more moderen low round $176 earlier than difficult the higher trendline as soon as once more. Such a transfer would additionally current a super purchase entry for merchants prepared to lengthy the ascending triangle.

Cease-losses may be set barely under the $170-mark. As soon as a breakout does happen, merchants can exit their positions on the 61.8% or 78.6% Fibonacci Extension ranges after gauging the 24-hour buying and selling volumes.



Source link

Tags: BuycapitalizeentryidealLitecointraders
ShareTweetPin

Search

No Result
View All Result

Recent News

Crypto Jobs: Who’s Cutting and Hiring?

Crypto Jobs: Who’s Cutting and Hiring?

June 28, 2022
BTC, ETH share spotlight while XRP struggles

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Summertime bull-run a multi-year bear market? – FXStreet

June 28, 2022
How Dogecoin Volatility Can Help Traders Turn a Profit

How Dogecoin Volatility Can Help Traders Turn a Profit

June 28, 2022

Recent News

  • Crypto Jobs: Who’s Cutting and Hiring?
  • Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Summertime bull-run a multi-year bear market? – FXStreet
  • How Dogecoin Volatility Can Help Traders Turn a Profit

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Rippl
  • Videos

Follow Us

Find Via Tags

Altcoin Altcoins analysis Analyst Bitcoin blockchain BTC Buy Cardano Chainlink coin Crypto Cryptocurrencies Cryptocurrency DeFi Digital DOGE Dogecoin ETH Ethereum exchange Heres Inu Investors launches link Litecoin LTC Market Markets metaverse news NFT NFTs Price Prices rally Ripple Ripples Shiba Solana Today token Top XRP
  • Privacy & Policy
  • About Us

© 2021 oof Crypto

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO

© 2021 oof Crypto