Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Litecoin (LTC) Chart Suggests Rally May Still Have Legs

Litecoin (LTC) Chart Suggests Rally May Still Have Legs

Nick Cawley, Strategist

Litecoin News and Talking Points

- Litecoin looks set to move higher if the recent downtrend is broken convincingly.

- Fibonacci resistance at $210 is the first target.

If you are interested in trading cryptocurrencies we have just released a new Guide to Day Trading Bitcoin and Other Cryptocurrencies to help you navigate the market.

We will be discussing a wide range of topics covering cryptocurrencies, security and blockchain with former Ethereum CCO Stephan Tual at a Special Live Discussion on March 13 at 14:00 GMT.

Litecoin (LTC) Chart Has a Positive Hue

After slipping from a recent high of $254 on February 20 to a low print of $158 on March 9, Litecoin (LTC) has turned around on the chart and trades back above Fibonacci retracement at $172. The token is also touching the current downtrend line and a break and close above this should leave the 50% Fibonacci retracement level at $210 as the first target. The stochastic indicator has turned around from being extremely oversold, while the IG Client Sentiment Indicator shows that while LTC traders are still net-long, recent positioning changes highlight a mixed trading bias. Support should set in at the previously mentioned $172 ahead of a double-low at $158.

Litecoin (LTC) Price Chart in US Dollars (October 19, 2017 – March 12, 2018)

Litecoin (LTC) Chart Suggests Rally May Still Have Legs

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Litecoin, Ripploe, Bitcoin Cash or Ethereum check out our Introduction to Bitcoin Trading Guide.

What’s your opinion on Litecoin – bullish or bearish? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES