Breaking News / Bitcoin Cash / Analytics / Litecoin
Litecoin (LTC/USD) extended recent losses during yesterday’s North American session and traded below the 92.00 figure for the first time since 24 May. Stops were elected below the 95.86 area, representing the 61.8% retracement of the move from 64.86 to 146.00. The pair’s next downside retracement level related to that range is the 84.01 area, and Stops are likely in place below this level as well. Price activity is approaching a couple of critical levels and if they are broken, bearish sentiment will likely continue.
The 88.68 area is the next immediate downside target and it represents the 23.6% retracement of the 304.00 – 22.17 range. Thereafter, the 84.09 area represents the 50% retracement of the move from 22.17 to 146.00. Technicians cite a flurry of Bids between the 83 and 87 areas, and below that range the 75.06 level will be closely watched as it represents the 50% retracement of the move from 127.95 to 22.17. The 62.58 area is the next relevant downside target in that range.
Price activity is nearest the 50-bar MA (4-hourly) at 111.05 and the 50-bar MA (Hourly) at 101.28.
Technical Support is expected around 83.36/ 75.06/ 69.47 with Stops expected below.
Technical Resistance is expected around 97.72/ 102.99/ 107.53 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Bitcoin Cash (BCH/USD) continued to glide lower and encountered additional selling pressure during yesterday’s North American session. The pair decisively moved below the 331.48 area,