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Litecoin (LTCUSD) Technical Analysis

Discussion in 'Expert Level' started by Arpit, Feb 3, 2019.

  1. Arpit

    Arpit Moderator Premium Member

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    We are looking at the daily chart of LTCUSD. We can see that the price has just bounces from a previous good support of $21. It is currently facing resistance from the top of the channel and also the 100 EMA (yellow line). Any possible down movement can make it go to the support of $21. Any further breakdown of the support can then lead it to go to $15/$10. Any possible upside breakout can take it to $45-55.
    Screen Shot 2019-02-04 at 11.06.32 am.png

    The RSI and the MACD is flat at the moment and the prices are in consolidation/distribution phase.
    Its better to wait for the scenario to be clear and then take a trade.
     
  2. Arpit

    Arpit Moderator Premium Member

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    As discussed, we reached our target of $45.
     
  3. Je. O.

    Je. O. Scholar

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    Why do people make these analyses every day, today price can be 45$ and tomorrow 43$ and it is hard to predict
     

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