LITECOIN - LTC/USDT - Daily - Technical analysis published on 01/23/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 124.20 USDT
My targets
107.00 USDT (-0.43%)
85.86 USDT (-20.10%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on LITECOIN - LTC/USDT as long as the price remains well below 124.20 USDT. The sellers' bearish objective is set at 107.00 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 85.86 USDT. In case of crossing, the next objective would be the support located at 38.99 USDT. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.9
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This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The LITECOIN - LTC/USDT rating is 107.46 USDT. The price registered a decrease of -0.89% on the session and was between 105.66 USDT and 111.77 USDT. This implies that the price is at +1.70% from its lowest and at -3.86% from its highest.105.66
111.77
107.46
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of LITECOIN - LTC/USDT indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Ichimoku - Bearish crossover : Tenkan & Kijun
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 38.99 | 107.27 | 107.46 | 126.54 | 141.54 | 163.90 |
| Change (%) | -63.72% | -0.18% | - | +17.76% | +31.71% | +52.52% |
| Change | -68.47 | -0.19 | - | +19.08 | +34.08 | +56.44 |
| Level | Minor | Major | - | Major | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.44 | 87.83 | 98.13 | 107.52 | 117.82 | 127.21 | 137.51 |
| Camarilla | 103.01 | 104.81 | 106.62 | 108.42 | 110.23 | 112.03 | 113.84 |
| Woodie | 78.89 | 88.06 | 98.58 | 107.75 | 118.27 | 127.44 | 137.96 |
| Fibonacci | 87.83 | 95.36 | 100.00 | 107.52 | 115.05 | 119.69 | 127.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.37 | 63.30 | 85.86 | 119.79 | 142.35 | 176.28 | 198.84 |
| Camarilla | 92.89 | 98.06 | 103.24 | 108.42 | 113.60 | 118.78 | 123.96 |
| Woodie | 23.69 | 60.46 | 80.18 | 116.95 | 136.67 | 173.44 | 193.16 |
| Fibonacci | 63.30 | 84.88 | 98.21 | 119.79 | 141.37 | 154.70 | 176.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 107.00 | 124.20 | 135.20 | 152.40 | 163.40 | 180.60 | 191.60 |
| Camarilla | 138.46 | 141.04 | 143.63 | 146.21 | 148.80 | 151.38 | 153.97 |
| Woodie | 103.91 | 122.65 | 132.11 | 150.85 | 160.31 | 179.05 | 188.51 |
| Fibonacci | 124.20 | 134.97 | 141.62 | 152.40 | 163.17 | 169.82 | 180.60 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 28.74 | |
| MACD (12,26,9): | -8.8300 | |
| Directional Movement: | -26.16 | |
| AROON (14): | -35.72 | |
| DEMA (21): | 122.48 | |
| Parabolic SAR (0,02-0,02-0,2): | 148.27 | |
| Elder Ray (13): | -20.02 | |
| Super Trend (3,10): | 141.66 | |
| Zig ZAG (10): | 107.45 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 15.47 | |
| TEMA (21): | 120.74 | |
| Williams %R (14): | -82.05 | |
| Chande Momentum Oscillator (20): | -24.24 | |
| Repulse (5,40,3): | -15.1500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.5700 | |
| Courbe Coppock: | 14.93 |
| MA7: | 127.01 | |
| MA20: | 133.69 | |
| MA50: | 145.42 | |
| MA100: | 177.66 | |
| MAexp7: | 121.82 | |
| MAexp20: | 133.32 | |
| MAexp50: | 148.66 | |
| MAexp100: | 162.15 | |
| Price / MA7: | -15.39% | |
| Price / MA20: | -19.62% | |
| Price / MA50: | -26.10% | |
| Price / MA100: | -39.51% | |
| Price / MAexp7: | -11.79% | |
| Price / MAexp20: | -19.40% | |
| Price / MAexp50: | -27.71% | |
| Price / MAexp100: | -33.73% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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