empty
 
 
22.04.2022 03:43 PM
Litecoin: bearish continuation pattern

Litecoin is trading at 107.93 at the time of writing. In the short term, it could move somehow sideways before deciding direction. Actually, the bias remains bearish, it could extend its drop anytime. LTC/USD dropped by 7.90% in yesterday's trading session. Now, it tries to rebound and recover.

In the last 24 hours, Litecoin is down by 4.32% and by 2.39% in the last 7 days. Bitcoin's deeper drop could force the altcoins to drop as well.

LTC/USD Temporary Rebound!

This image is no longer relevant

LTC/USD found support at 101.76 and now it has tried to rebound. It has developed an up-channel pattern that could represent a bearish continuation pattern. Still, we'll have to wait for strong confirmation before taking action.

After its strong drop, a temporary rebound was natural and expected. Stabilizing below the weekly pivot point (108.57) and under the uptrend line, LTC/USD could develop a new sell-off.

LTC/USD Outlook!

A new lower low, making a valid breakdown below 105.452 could open the door for more declines. This scenario could bring new short opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback