CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Litecoin price analysis: buy dips below $50

By Nathan Batchelor

14:32, 14 August 2020

Litecoin price analysis

Litecoin appears increasingly bearish in the near term, as the cryptocurrency struggles to regain the $60 technical level.

Litecoin price analysis shows that the cryptocurrency could be preparing to drop towards the $47 support area before the recent up-move resumes.

Litecoin medium-term price trend

Litecoin could soon start to move below the $50 level, as a wave of technical selling pressure continues to drag the popular cryptocurrency lower.

Litecoin technical analysis shows that the LTC/USD pair  will turn technically bearish if the price moves under the $50 level.

Litecoin technical analysis

The daily time frame shows that the July 27 swing-low, around the $47 level, and the July 25 low, around the $44.00 level, are the key support zones below the $50 level to watch.

Given the ongoing breakout in the broader cryptocurrency market, the LTC/USD pair is expected to meet strong dip-buying interest from the mentioned support zones.

Long-term analysis highlights the $80 level as a potential upside target while the monthly candle continues to close above the $50 level.

ETH/USD

3,124.62 Price
-2.000% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.53 Price
-1.960% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

US100

17,723.90 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 1.8

Gold

2,336.91 Price
+0.220% 1D Chg, %
Long position overnight fee -0.0190%
Short position overnight fee 0.0107%
Overnight fee time 21:00 (UTC)
Spread 0.30

Traders should note that a weekly price close under the $44 level will negate the bullish medium-term outlook surrounding the LTC/USD pair.

What is your sentiment on EA?

128.16
Bullish
or
Bearish
Vote to see Traders sentiment!

Litecoin short-term price trend

Litecoin technical analysis shows that the cryptocurrency has a bearish short-term bias while the price trades below the $54 level.

The lower time frames currently show that a large head-and-shoulders pattern has been activated following the recent move under the $54 level.

Litecoin technical analysis

According to the size of the bearish pattern, the LTC/USD pair could fall towards the $44 level over the short term.

It is also noteworthy that the RSI indicator is showing negative price divergence extending down towards the $48 level.

Litecoin technical summary 

Litecoin technical analysis shows that bears are gaining control of the cryptocurrency and may force a decline towards the $48 to $44 area.

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 610,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading