Litecoin [LTC/USD] Technical Analysis: The prices struggling to keep the bull run going

Litecoin [LTC], once the seventh largest cryptocurrency has now dropped a rank lower and is now the eighth largest cryptocurrency by market cap as per the data from CoinMarketCap.
The prices for Litecoin are trading at $30 each with a market cap of $1.8 billion. The 24-hour volume of $450 million, while the 24-hour price change is holding at 2.65% on the negative side.
Litecoin has been gaining a lot of adoption as it became the first cryptocurrency to sponsor UFC232 and LTC’s banner will be printed during the fight that is scheduled to take place on December 29 in California.
1 Hour

The uptrend for Litecoin extends from $23.54 to $29.40, while the downtrend has reduced in its length and strength as it only extends from $35.92 to $29.71. The support at $22.49 is supporting Litecoin prices since the start of December. The resistance points are seen holding at $29.70, $31.73, and $36.16.
The Bollinger Bands are seen squeezing with prices falling below the simple moving average indicating that bears are pressuring the prices down.
The Aroon indicator shows a strong downtrend but a weak uptrend that is heading down towards the zero-line.
The Stochastic indicator has hit the lower band of the indicator and is trying to get back up but is failing as it seems to be undergoing a possible bearish crossover.
1 Day

 
The downtrend for Litecoin in the larger time frame extends from $124 to $33, with the prices being supported at $23. The major resistance points for LTC can be seen hanging at $62 and $101.
The Parabolic SAR markers have formed below the price candles which indicates a bullish trend for Litecoin
The MACD indicator shows a bullish crossover that struck the bottom of the zero-line but failed to cross it. The MACD indicator still shows a bullish pressure for LTC.
The Awesome Oscillator shows a bullish crossover that still persists and has a transition of green bars into red, which indicates that the prices are decreasing.
Conclusion
The one-hour chart shows a bearish pressure for Litecoin, which is indicated by indicators Bollinger bands, Aroon and Stochastic indicator. The one-day chart shows a rather bullish view for Litecoin as indicated by the SAR, MACD and the Awesome Oscillators.
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Christmas rally seems to have made a splash on daily charts

Litecoin took over Bitcoin Cash in a frenzy recently but has now decided to come back down and become the eighth-largest cryptocurrency as per the data from CoinMarketCap.
Litecoin is currently being traded at $32.32, with a market cap of $1.92 billion. The 24-hour trade volume is holding at $587 million.
1-hour
Source: TradingView
The uptrend for Litecoin in the one-hour time frame extends from $23.54 to $31.03, while the downtrend has exhausted as a result of the recent rally, and extends from $35.32 to $32.82. Litecoin prices have drifted away from the support at $22.49 in an upward direction towards the resistance at $26.31, $29.70 and $31.77. The resistance at $31.77  is being tested.
The Parabolic SAR markers have spawned above the price candles which indicates a bearish pressure to the prices.
The MACD indicator is showing a massive bearish crossover for Litecoin prices indicating that the short rally has come to an end.
The Awesome Oscillator shows receding spike above the zero-line, indicating a probability of an imminent bearish crossover.
1-day
Source: TradingView
The one-hour chart looks the same as the downtrend extends from $125 to $32.36, with no uptrend yet to be formed in the larger time-frame.
The support for Litecoin in the one-day time frame is seen holding strongly at $22.84, while the resistance lines at $62.63, $101.11 are yet to be tested.
The Aroon indicator shows a full-fledged uptrend underway as the Aroon up-line has hit the 100-line, while the Aroon downline has exhausted and sunk to the bottom.
The Chaikin Money Flow is under recovery from the oversold zone due to the short-term rally, which indicates that the money is flowing into the market.
The Relative Strength Index shows a recovery as well, as it has risen above the 50-line indicating that the buy-momentum is increasing in the Litecoin market.
Conclusion
The one-hour chart shows that the bulls have run out of juice as indicated by the SAR, MACD and AO indicators. The one-day chart shows more promise than the one-hour chart as it is bullish which is indicated by Aroon, CMF, and RSI.
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Christmas comes early for Litecoin community

As 2018 is coming to an end, the price of Litecoin is seeming bullish as a break seems to be happening in the shorter one-hour time frame, and Charlie Lee’s “flappening” prediction came true before the year-end.
Litecoin has undergone an increase of more than 15% in the past 48 hours and the prices at the time of writing were trading at $28.37 while the market cap has increased and is currently at ~1.7 billion.
The 24-hour trading volume is holding steady at $515.17. DOBI Trade exchange provides almost 17% of the total trading volume with trading pairs LTC/BTC.
1 Hour
Source: TradingView
The uptrend for Litecoin has materialized and extends from $23.54 to $28, while the downtrend has lost its range as it spans from $33.90 to $28.27. Litecoin has managed to rise above the broken support at $22.77 and set up a new support at $22.43. The resistance points are seen set up at $26.31, $29.70, $$31.73, and $35.29.
The Parabolic SAR markers are formed below the candles with significant distance between them indicating a bullish trend for Litecoin.
The MACD indicator shows a bullish crossover to the top ever since the MACD line crossed over the signal line on December 15.
The Awesome Oscillator shows positive signs as the indicator has undergone a bullish crossover since December 16 and has managed to stay above the zero-line.
1 Day
Source: TradingView
There is no uptrend formed in the one-day chart as of now, but the downtrend extends from $125 to $28, with prices being supported at $22.84. The resistance points can be seen hanging at $101.11 to $62.63.
The Aroon indicator shows a negative downtrend still in control of the markets for Litecoin as the Aroon down-line has reached the 100-line and is slowly declining. The Aroon-up line has settled at the zero-line, exhausting all its uptrend power.
The Chaikin Money Flow indicates that the sellers are still in control of the Litecoin market, while buyers are trying to overpower the sellers.
The Relative Strength Indicator is rising faster from the depths of the oversold zone to a neutral position and towards the overbought zone.
Conclusion
The one-hour char is lit green with all the indicators [SAR, MACD, and Awesome Oscillator] indicating a possible bull run for Litecoin. The one-hour chart, however, seems confused as the Aroon and the CMF show a bearish aura around Litecoin, but RSI shows that the buyers have increased in the market and LTC has reached the 50-line.
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Token spews blood as its prices wither away

Litecoin [LTC] prices are crumbling non-stop, breaking long-term supports without hesitations, both in the one-hour and the one-day charts. The market cap for Litecoin is currently hanging by a thread at $1.50 billion, with the current prices trading as low as $25.29.
Once, the seventh-largest cryptocurrency, it is now placed at the ninth rank below Bitcoin SV [BSV] and just above Tron [TRX].
1-hour
Source: Trading View
The uptrend for Litecoin, although small, extends from $22.77 to $24.23, while the downtrend is in full swing as it extends from $37.29 to $25.09. Prices for Litecoin have broken the support at $27.25 and set up a new support at $22.77. The resistance points are seen hanging at $29.70, $35.29, and $37.29.
The Parabolic SAR markers have formed above the price candles, which indicates a bearish presence hanging over the market.
The MACD indicator also shows a bearish presence as the MACD line has crossed over the signal line to the bottom.
The Awesome Oscillator shows a bearish crossover as the red bars are moving from above the zero-line to the bottom of it.
1-day
Source: Trading View
In the one-day chart, the downtrend extends from $124.76 to $25.29, with no uptrend in sight whatsoever. Even in the one-day chart, the prices have broken support at $28.60 and set new support at $24.19. The resistance points are set up at $62.63 and $101.11.
The Bollinger Bands for the LTC prices in the one-day time frame depicts an on-going squeeze, which is typically a period of less volatility and the prices are in the oversold zone.
The Aroon indicator shows that the downtrend is in full swing as the Aroon down-line has hit the 100-line, while the Aroon-up line is at the bottom.
The Stochastic indicator shows mirroring of the bear market as the stochastic lines have dipped too deep in the oversold zone, and are still in it.
Conclusion
The indicators in the one-hour chart show a bearish aura hanging around Litecoin cryptocurrency. The Bollinger Bands, Aroon and the Stochastic, all indicate a bearish downtrend for Litecoin.
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Source: AMB Crypto

Litecoin [LTC] Technical Analysis: Bears mutilate the silver to Bitcoin’s gold

Litecoin [LTC], the former seventh-largest cryptocurrency in the world has recently lost its spot to Tether, a stablecoin. Now, Litecoin stands in the eighth spot, with market cap hanging at $1.76 billion and the 24-hour trade volume holding steady at $426.57 million.
The 24-hour change for prices is positive at 3% while the longer time frame of seven days shows a massive decline of 14.20%.
1-hour
Source: CoinMarketCap
The downtrend for Litecoin extends from $37.29  to $29.69 with no uptrend in sight. The support for Litecoin at $27.25 was almost tested on December 6, 05:00 UTC. The resistance points for Litecoin can be seen hanging at $29.74, $35.29, and $37.29.
The Parabolic SAR markers are formed below the price candles and are supporting them in a bullish trend.
The MACD indicator shows a bullish crossover to the top as the MACD lines have crossed over the signal line.
The Awesome Oscillator shows a transition of red bars into green, and the green bars are depleting and might be heading towards a bullish crossover.
1-day
Source: CoinMarketCap
The one-day chart seems to be always going down as the downtrend dips from $125 to $33.45. The long-standing support for Litecoin is set up at $28.60, while the long-term resistance points are seen hanging at $101.11 and $62.87.
The Bollinger Bands are undergoing a squeeze and the prices have touched the simple moving average, indicating that the prices have recuperated.
The Relative Strength Index is bottoming at the 30-mark, which is an indication of an oversold market.
The Chaikin Money Flow shows a massive money outflow for Litecoin as the CMF has dipped way below the zero-line.
Conclusion
The one-hour charts show a bullish trend for Litecoin as indicated by the SAR, AO and MACD indicators. The indicator in the one-day charts isn’t as bullish as in the one-hour charts. The CMF and RSI indicate a bearish move for Litecoin but the Bollinger Bands indicate otherwise.
 
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Bulls take control after stampede

Litecoin [LTC], at the time of writing, was trading at $33.65 with a market cap of $2 billion, which makes it the seventh-largest cryptocurrency in terms of market cap as per data from CoinMarketCap.
The 24-hour trade volume of Litecoin was $59.38 million and most of the trade volume [~25%] was coming from a Korean exchange Coinbit with trading pair LTC/KRW. DOBI Trade follows Coinbit by contributing 16% of the total trade volume.
Litecoin has also undergone a positive change of 6% in the 24-hour time frame, while a change of 5.25% was registered in the seven-day time frame.
1-hour

The one-hour chart for Litecoin shows an uptrend that extends from $27.34 to $31.18 and a downtrend that extends from $41.38 to $33.16. The support for Litecoin is holding strong at $27.25, while the resistance points can be seen hovering way above the current prices of Litecoin i.e., at $31.68, 35.29 and $37.29.
The MACD indicator shows a bullish crossover underway and histogram is lit up with green bars above the zero-line.
The Stochastic indicator also shows a bullish crossover over as well and indicates an overbought market for Litecoin.
The Chaikin Money Flow shows an overbought market as well since the CMF line is way above the zero line and is recovering from the overbought zone.
1-day

The uptrend cannot be seen in the one-day chart while the downtrend extends from $125 to $34. The supports for Litecoin in this time frame can be seen at $28. Multiple resistance points are seen at $62.87 and $101.11.
The Parabolic SAR markers show a bullish trend in the one-day chart for Litecoin.
The Awesome Oscillator shows a transition into green spikes that indicates that the prices are increasing.
The Relative Vigor Index shows a bullish crossover to the bottom, as the RVGI line has crossover the signal line.
Conclusion
All the indicators in the one-hour chart show a bullish trend emerging in the short-term one-hour chart. The one-day chart for Litecoin is showing a bullish trend in the longer time frame as well.
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: A possible run-of-the-mill for bulls

Litecoin [LTC]’s market cap has fallen below the $2 billion market cap again and is currently at $1.91 billion, and the price is at $32.32 as per CoinMarketCap.
The 24-hour trading volume of Litecoin is $59.36 million and ~11.73% of it is contributed by DOBI trade with the pair LTC/BTC. OKEx follows DOBI trade and contributes ~11.47% of all the trading volume with trading pairs LTC/BTC and LTC/USDT.
1-hour
Source: Trading View
The uptrend for Litecoin ranges from $28.78 to $31.70, while downtrend ranges from $41.62 to $31.94. The support at $27.25 is holding strong. Litecoin broke the resistance point at $31.68 and rose above it, and the prices are currently testing the same resistance. More resistance points can be seen at $35.29 and $37.29.
The Aroon indicator shows a downtrend gaining strength while the uptrend is struggling to gain momentum.
The Chaikin Money Flow has dipped below the zero-line, indicating that sellers are dominating the Litecoin market.
The Relative Vigor Index shows a crossover of the RVGI to the bottom which is a bearish indication.
1-day
Source: Trading View
The one-day chart for Litecoin shows no signs of an uptrend, while the downtrend extends from $125 to $34.43. The support for Litecoin at $28.60 has been holding steady for more than four days, while resistance points at $63.11 and $101.11 are both holding strong as well.
The Parabolic SAR markers are showing a bullish trend for Litecoin in the one-day time frame.
The MACD line is undergoing a bullish crossover and the histogram is starting to see some green bars materialize above the zero-line.
The Stochastic indicator shows a recovery from the depths in a bullish crossover.
Conclusion
The one-day chart shows a bearish outlook as indicated by the Aroon, CMF and the RVGI indicators, while the one-day chart for Litecoin is showing a bullish presence as depicted by all indicators [SAR, MACD, and Stochastic].
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Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Momentary take over by the bulls hasn’t fazed the bears

Litecoin [LTC] has faced a few hardships as it was overtaken by Bitcoin SV and pushed to the ninth rank by the bearish market. However, Litecoin’s ninth spot was temporary, as it did recover and is now holding steady as the seventh-largest cryptocurrency in the world.
Litecoin, at the time of writing, was trading at $34.32 with a 24-hour change of 4% in the green side. The market cap is holding above the $2 billion line.
1-hour
Source: Trading View
Litecoin, from the one-hour chart, shows a downtrend that extends from $41.62 to $35.32 and an uptrend that ranges from $28.78 to $33.18. The prices for Litecoin have broken resistance at $31.68 and have touched the next immediate resistance at $35.29. The support at $27.25 is holding strong as the prices have started an upswing trend since November 27.
The MACD indicator is undergoing a bearish crossover as the prices have started dipping. The histogram for MACD shows red bars hanging below the zero-line.
The Stochastic indicator has burned out the bearish crossover as it is below the 30-line.
The Chaikin Money Flow is slightly above the zero-line, which shows that the buyers are still in control of the Litecoin market.
1-day
Source: Trading View
The one-day chart for Litecoin shows a small rise, with an uptrend yet to form. The downtrend, however, extends from $125 to $34.43. Litecoin has breached support at $37.39 and set up a new low for support at $28.26. The resistance points at $63.11 and $101.11 seem too far for the prices to breach them, which is highly unlikely in the current bear market.
The Parabolic SAR markers seem surprisingly bullish as they’ve spawned below the price candles, which represents a bullish trend, no matter how small.
The Awesome Oscillator shows a bearish crossover to the bottom, but also a transition of green lines into red lines. The overall take on AO indicator is that the short-term momentum is falling faster than the long-term momentum.
The Aroon indicator shows a clear dominance of the downtrend and exhaustion of the uptrend for Litecoin.
Conclusion
The MACD and Stochastic indicators show a bearish outlook for Litecoin, while the CMF is still riding with the bulls. The SAR is the only bullish indicator in the one-day chart show, while Aroon and AO show a bearish presence.
The post Litecoin [LTC/USD] Technical Analysis: Momentary take over by the bulls hasn’t fazed the bears appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Sturdy bear holds the door to prevent bull run

Litecoin [LTC] is one of the coins that suffered the most when it comes to the crash of 2018, as it fell down from an all-time high of $367 to a mere $27, which is a decline of 92%, while Bitcoin has only collapsed by 80% from its all-time high.
The price of Litecoin at the time of writing was $32.56 with a market cap of $1.93 billion.
1-hour
Litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing bulls from enteringLitecoin is slowly climbing and has developed on an uptrend on the one-hour chart, but a strong downtrend extends from $37.29 to $32.45. The support at $27.25 is holding steady since the prices didn’t even come close to hitting it. Litecoin, however, has broken an immediate resistance at $31.68 and has risen above it. Subsequent resistance points are set up at $35.29 and $37.29.
The Parabolic SAR markers are supporting the prices candles from below and pushing them higher, so Litecoin is indicating a bullish scenario.
The MACD indicator shows a clear bullish crossover while rising strongly to the top. The histogram shows green bars above the zero-line, indicating that the prices are increasing.
The Chaikin Money Flow indicator shows the buying pressure dominating the sell-off pressure, hence CMF can be seen between the 0 and the 20-line.
1-day
Litecoin [LTC/USD] Technical Analysis: The sturdy bear holds the door preventing bulls from enteringThe downtrend for Litecoin is significant as it extends from a high of $125 to a depth of $32, without a single trace of an uptrend. Litecoin has broken the support at $38 and has breached as far as $26. The resistance points show no sign of breach as the prices are continuously dipping.
The Bollinger Bands show an expansion as the volatility has made its way into the market. The prices for Litecoin look oversold as they have fallen below the simple moving average.
The Awesome Oscillator is transitioning into green bars, indicating that the prices are increasing in the shorter time frame.
The RSI has partially revived itself from the oversold zone and has made its way above the 20-line, but it is still in the oversold zone.
Conclusion
The one-hour chart is sprouting with green and the indicators, SAR, MACD, and CMF depict the same green picture. The one-day is a complete opposite of that in the one-hour chart as, Bollinger Bands, AO, and the RSI indicate a cumulative bearish trend still engulfing the larger time frame for Litecoin.
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Source: AMB Crypto

Litecoin [LTC] Technical Analysis: Bulls and bears brawl to take control of token

Litecoin [LTC], the seventh-largest cryptocurrency, is showing an increase of 7.40% in its prices in a 24-hour time frame. It is currently trading at $31.20, with a market cap of $1.85 billion [at the time of writing].
The trading volume of Litecoin is $535 million, of which 16%, i.e., $97 million, came from DOBI Trade exchange with trading pair LTC/BTC.
1-hour
Source: Trading View
The one-hour chart for Litecoin shows an uptrend extending from $27.34 to $30.59, while the massive downtrend extends from $41.66 to  $30.99 is also prevalent. The support at $31.40 has been breached by the prices on November 25. Litecoin has created a new support at $27.25, while resistances are set up at $31.80, $35.29, and $37.29.
The Bollinger Bands are in an expansion as volatility has kicked in on November 25, at 19:00 UTC. The prices have consistently been above the simple moving average, which indicates a bullish presence.
The Aroon indicator shows both the downtrend and the uptrend hitting the bottoms. Only the Aroon up line has sprung up and is currently at 50, indicating an incoming uptrend.
The Stochastic indicator shows a bearish crossover to the bottom.
1-day
Source: Trading View
The downtrend for one-day chart ranges from $125 to $30.37, with no uptrend in sight. The supports at $53.73 and $37.93 have been broken as the prices dipped to new lows. Resistance points for Litecoin can be visualized at $63.11 and $101.11.
The Parabolic SAR markers are seen above the price candles of Litecoin, indicating a bearish presence in the market.
The MACD is seen showing a bearish presence as well with the bearish crossovers seen clearly.
The Awesome Oscillator shows a subsequent increase in the red spikes, which means that the prices are dropping continuously. However, the tides are shifting in favor of the bull.
Conclusion
The Bollinger and Aroon show a creeping bullish trend while the Stochastic indicator shows otherwise. The SAR, AO, and MACD are all showing bearish crossovers.
The post Litecoin [LTC] Technical Analysis: Bulls and bears brawl to take control of token appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Bulls just don’t have what it takes

Litecoin [LTC] is one of the coins which was hit the hardest by the cryptocurrency massacre that has been occurring over the past 10 months, with the coin recently testing its lowest resistance level at $48.45.
However, the coin seems to be looking for a comeback, as shown by the technical indicators.
1-hour
Source: Trading View
The one-hour graph shows a downtrend evolving slowly from $55.67 to $51.82. Although the uptrend is getting more linear as each day passes, it ranges from $50.71 to $51.27 after which it broke up and ended up at $51.59.
The trend lines indicate that the prices, after a brief journey upside, lost their strength and are spiraling down under the pressure of bears.
The Parabolic SAR shows a bullish trend since the markers have stopped and reversed to the bottom of the price candles.
The Awesome Oscillator indicates the bearish trend is dissipating, however, it is not completely lost since the candles are still being formed below the zero line and are green.
The RSI has crossed the 50 line, indicating a slightly bullish trend emanating since the buyers have slowly taken control of the market.
1-day
Source: Trading View
On the one-day chart, the downtrend is ranging from $177.74 to $55.98, while there seems to be no uptrend in sight in the long-term trend. The support is holding strong at $48.45 while the resistances are not getting tested due to the bear trend holding steady. The imminent resistance is set up at $68.35, while subsequent resistances are set up at $89.02, $125, and $177.74.
The Bollinger Bands are showing a bearish trend while the bands are undergoing a contraction. The prices are holding steady on the exponential moving average, which shows that the market is in a bearish mood.
The Aroon up line has hit the top indicating that the uptrend has reached a maximum strength while the Aroon downline has crossed over to the bottom, indicating that the downtrend line has lost its significance.
The MACD indicator shows an overall bullish trend as the MACD line is undergoing a bullish crossover after the MACD line crossed over the signal line.
Conclusion
The one-hour charts are showing a rather bullish move except for the AO indicator which is still bullish. The one-day chart, however, is showing a bullish as well except for Bollinger band that indicates otherwise.
The post Litecoin [LTC/USD] Technical Analysis: Bulls just don’t have what it takes appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin Price Analysis: Gemini Announce Litecoin Support, Boost Bulls

Despite Gemini support and yesterday’s two percent gain, sellers are in control. In fact, we may see prices sliding below $50 confirming the trend resumption phase of the bear break out pattern that begun in early August. Generally, we are bearish but this could change if Litecoin find support and we see a pump towards $70.
Latest Litecoin News
It’s true that Litecoin co-founder Charlie Lee is never shy of the cameras. Sometimes he can be controversial but more often than not, he fires back with sense. That’s admirable. Though Monero is privacy specific with obfuscation features that is making the US Secret Service uncomfortable, still Charlie Lee is a big fan of the coin.

Fungibility is the one and only feature of sound money missing from Bitcoin and Litecoin. Do you support adding a privacy feature to Litecoin? If so, which do you prefer and why?
— Charlie Lee [LTC] (@SatoshiLite) August 29, 2018

He relayed his intentions when he carried out a Twitter poll asking users to vote if they would want to see Confidential Transactions (CTs), ZK-STARKs or ZK-SNARKs or Mimble-Wimble implementations. The majority were for incorporation of CTs but it was split in between with some preferring leaving the network as it is for unnecessary scrutiny.
In the meantime, Gemini will from today allow deposit of Litecoin after getting the necessary approval from the New York State Department of Financial Services (NYDFS).

We are pleased to announce that @litecoin (LTC) is now available on Gemini! Starting tomorrow, we will begin accepting Litecoin deposits, and trading will open across all currency pairs on Tuesday. For more information, please visit our blog on @Medium https://t.co/it5xuF9Hr5
— Gemini (@GeminiTrust) October 12, 2018

While making the announcement, the VP of Engineering Eric Winer said the exchange will offer both trading and custody services for Litecoin beginning today. However, trading begins on Oct 16. Regardless, Gemini is taking a prudent approach before offering support for any coin. This security first approach has seen them being held to “the highest standards of banking compliance and fiduciary obligations” by regulators.
Litecoin Price Analysis
Weekly Chart

Losses are deep in the weekly chart. With an eight percent slide, the market is obviously struggling against bears. As a result, we could see LTC print new lows more so if there is a follow through next week. Though there is optimism from Gemini, price chart arrangements offer support for sellers.
Because the path of resistance is to the south all due to the liquidating effect of week ending Sep 9 which in turn confirms the bear break out of week ending Aug 12, we recommend sells in lower time frames once prices slide below $50.
Conversely, should buyers build enough momentum breaking above the consolidation of the last two months, then this bear projection would be invalid.
Daily Chart

Aside from Oct 11 strong bears, we can easily note that Litecoin prices are ranging with clear supports and resistance at $50 and $70 respectively. But, what is important is the price action in the first week of Aug. Then, we saw bears melt below $70 triggering a bear break out pattern.
Consequent retests happened in early Sep and since then prices have been consolidating printing lower lows. In days to come as reiterated, what we want to see is a solid close below $50. Preferably, we want to see one full bear bar closing below $50. Thereafter, sellers can begin unloading at spot with first targets at $30.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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Source: New feedNewsBTC.com