beta - fireinvestment.io logo beta - fireinvestment.io logo Home Mercati Notizia Risorse Burn it

Burn it
ENG
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
 Accesso Registrare

NewsBTC 2022-12-17 16:00:04

Litecoin Hits Short-Term Low As Price Breaks Below Parallel Channel

Litecoin Hits Short-Term Low As Price Breaks Below Parallel Channel

The Litecoin price has tanked further over the last 24 hours. On their respective charts, the prices of major altcoins reflect the price action of Bitcoin. As BTC slipped close to 3%, LTC also tanked nearly 8% on the daily chart. Recovery for Litecoin seems far-fetched from what the technical outlook suggests. A rise in Bitcoin’s price may help LTC for a while, but the altcoin’s demand must rise in order for the price to reverse. The short-term price thesis for LTC points towards continued lower price action. Since the coin has moved to a short-term low on its daily chart, the chance of a reversal cannot be fully negated either. For the past few weeks, the altcoin has been moving in a parallel channel, between $79 and $68 respectively. Investors had expected that LTC would break on the upside as BTC was attempting to register daily gains on its chart. Despite Litecoin moving above the $70 price mark, demand was not on the side of the bulls. This could mean that demand was lower at higher levels for Litecoin. On the other hand, market capitalization noted a slight uptick, which could also hint at the coin attempting to turn its price around. Related Reading: Double-Digit Losses Brings Doge Below Critical Level, More Pain To Follow? Litecoin Price Analysis: One-Day Chart LTC was trading at $68 at press time. The altcoin got to this price level after falling through the lower line of the parallel channel. Its current resistance mark would be at $70, breaching which the coin might face another setback at $74. As LTC continues to fall, the local support line for the altcoin was $66, falling through which LTC could halt at $56. This would cause the coin to lose another 15% of its value. The amount of Litecoin traded in the last session shot up, and that signified selling pressure intensifying on the chart. Technical Analysis As LTC broke below the lower band of the parallel channel, the buying strength could not sustain itself. The Relative Strength Index pierced through the half-line and stood near 40. This indicated that sellers were countering buyers at press time. In accordance with the same, the price of the altcoin was below the 20-Simple Moving Average line. Moving below the 20-SMA meant that sellers were driving the price momentum in the market. The altcoin depicted that sellers were strong in the market. The Moving Average Convergence Divergence reads the price momentum and trend, painted red histograms. These red histograms were sell signals for the altcoin. The Aroon Indicator indicates a trend; as the blue line (Aroon down) crossed over the yellow line (Aroon down), it signals a downtrend for the Litecoin price. Related Reading: Polygon Profitability Tanks As MATIC Nosedives 5.6%

La maggior parte ha letto le notizie

Ricevi la newsletter di Crypto
0
Oggi notizie
Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta