Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside

Fri, 13 Dec 2019, 06:56 am UTC

LTC/USD chart - Trading View

Exchange - Coinbase

Support: 41.85 (Trendline); Resistance: 44.60 (200H MA)

Technical Analysis: Bias Neutral to slightly Bullish

LTC/USD is flashing signs of nascent recovery, trades 0.23% higher at 43.70 at 06:40 GMT.

The pair has been extending sideways grind since Nov 25th and major trend remains bearish.

Price action has held above trendline support (currently at 41.85) and extension on weakness only on break below.

After erasing around 70% of its value since highs of 146 seen in June 2019, the pair shows signs of minor recovery.

'Dragonfly Doji' at lows together with bullish RSI and Stochs divergence on daily and intraday charts raises scope for gains.

That said, 200H MA is major resistance (currently at 44.60). Break above will confirm near-term upside.

Failure to break above 200H MA and breach below trendline support (41.85) will open downside for the pair. Next major support lies at 36.29 (88.6% Fib).

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,440.45 (+0.33%)
  • Ethereum (ETH) $161.34 (-0.91%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $322.29 (-4.14%)
  • Bitcoin SV (BSV) $277.27 (-2.86%)
  • Bitcoin (BTC) $8,440.45 (+0.33%)
Jan 24, 2020 (Friday)
Ripple CEO Brad Garlinghouse hints at the possibility of IPO
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Japan ruling party lawmakers to propose digital yen in February: Report
Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
Tether launches new stablecoin backed by physical gold
Crypto exchange ErisX partners with Etale to offer new trading features
World Economic Forum launches blockchain-based supply chain traceability platform
Crypto Technicals: LTC/USD holds above 51 mark, finds strong support at daily cloud
Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
Greece to extradite alleged BTC-e operator Alexander Vinnik to France after supreme court ruling
Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
Crypto exchange Binance invests in blockchain startup Numbers
Crypto Technicals: ETH/USD holds above 21-EMA and cloud support, further weakness on charts
Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
Crypto Technicals: BTC/USD extends weakness, eyes next major support at 110-EMA (8134)
Jan 23, 2020 (Thursday)
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
World Economic Forum creates framework to help central banks design and deploy CBDC
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.