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Litecoin: LTC/USD (LTC=) Seeing a Nice Correction

$LTC #Litecoin #Crypto #Cryptocurrencies #FX #Trading #Markets

Litecoin
Ticker: LTC=
Price: $74.76

Litecoin Outlook

Litecoin was trading at $76.326 by 19:58 (00:58 GMT) on the Investing.com Index on Wednesday, down 10.05% on the day. It was the largest one-day percentage loss since December 4.

The move downwards pushed Litecoin’s market cap down to $5.065B, or 0.94% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $14.099B.

Litecoin had traded in a range of $75.883 to $77.445 in the previous twenty-four hours.

Over the past seven days, Litecoin has seen a drop in value, as it lost 10.49%. The volume of Litecoin traded in the twenty-four hours to time of writing was $4.290B or 3.16% of the total volume of all cryptocurrencies. It has traded in a range of $75.5116 to $91.2549 in the past 7 days.

At its current price, Litecoin is still down 81.83% from its all-time high of $420.00 set on December 12, 2017.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 88.47.

The projected lower bound is: 61.76.

The projected closing price is: 75.11.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 19.1665. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 47.69. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 14 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

FOREX LTC= closed down -3.260 at 74.560. Volume was 40% below average (neutral) and Bollinger Bands were 52% wider than normal.

Open     High     Low     Close     Volume
77.820   78.320   74.170  74.560    114,540
Technical Outlook
Short Term:        Oversold
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           83.25         68.52         53.77
Volatility:      156           118           83
Volume:          271,051       235,996       185,280

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX LTC= is currently 38.7% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of LTC= at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bullish on LTC= and have had this outlook for the last 64 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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