Litecoin Price Analysis: LTC/USD Nosedives Below $160

Litecoin Price Analysis: LTC/USD Nosedives Below $160

It traded as low as $149.96 and is currently correcting higher. The price has moved above the 23.6% Fib retracement level of the last decline from the $169 high to $149 low. Moreover, there was a break above a short-term connecting bearish trend line with resistance at $155 on the hourly chart of the LTC/USD pair.

The pair is currently making a decent upside recovery above $150, but it is facing many hurdles on the upside. The first hurdle is near $160, which was a support earlier. It also represents the 50% Fib retracement level of the last decline from the $169 high to $149 low.

Above $160, the price could face a strong selling interest near $170. Therefore, any major recovery from the current levels is likely to face hurdles on the upside near $160 and $170.

On the downside, the $150 support holds the key. A break below the mentioned $150 support could initiate more declines towards the $135-140 support area in the near term.[/i]

[i]Trade safe traders and do not overtrade!

15.03.2018 / 01:14 59
Bitcoin Cash Price Technical Analysis  BCH/USD Declines Sharply Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price extended declines and moved below the $1,100 support against the US Dollar. There is a new connecting bearish trend
Litecoin Price Analysis: LTC/USD Could Decline Further Litecoin Price Analysis: LTC/USD Could
The recent low formed was $191.82 before the price started an upside correction. It moved above the 23.6% Fib retracement level of the last decline
Ethereum Price Technical Analysis  ETH/USD Sell on Rallies Ethereum Price Technical Analysis
Key Highlights ETH price extended declines and traded below the $828 support level against the US Dollar. There is a major bearish trend line forming
Bitcoin Cash Price Technical Analysis  BCH/USD Extends Decline Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price continued to trade down and it moved below the $1,200 support against the US Dollar. There was a break below a major
Ethereum Price Technical Analysis  ETH/USD Could Decline Further Ethereum Price Technical Analysis
Key Highlights ETH price formed a short-term top near $857 and moved down against the US Dollar. There is a key connecting bearish trend line forming
Ethereum Price Technical Analysis  ETH/USD Recovery Underway Ethereum Price Technical Analysis
Key Highlights ETH price started a fresh upside move from the $826 swing low against the US Dollar. There was a break above a crucial bearish trend
Comments (0)
Add a comment
Comment on