Litecoin [LTC] & Dash Technical Analysis – Is Litecoin Set for a Reversal With a Triple Bearish Divergence?

2019-3-20 20:14

Litecoin USD Weekly Chart – Source: Tradingview.com

The odds of a significant reversal in Litecoin are increasing as a rarely seen triple bearish divergence forms between price and RSI.

A bearish divergence is a bearish trend reversal pattern that forms when price forms higher highs while the RSI forms lower highs.

This pattern shows price continuing to increase despite falling buying pressure.

The triple divergence formed after the price created a series of higher highs while the RSI formed a series of lower highs.

Litecoin versus bitcoin weekly Chart – Source: Tradingview.com

Litecoin has been leading the strong performance seen recently in cryptocurrencies versus the USD.

Litecoin has been outperforming most major altcoins and has been outperforming the market leader Bitcoin.

Adding further strength to the argument that Litecoin could be due a reversal is the level that Litecoin is approaching on the Litecoin versus Bitcoin chart.

Litecoin is approaching 0.0156 Bitcoin which was an area of significant support during price drops taking place in the first half of 2018.

Litecon versus bitcoin 4-hour Chart – Source: Tradingview.com

Price has already tested this point as resistance and has failed to retest.

It seems unlikely that price will break above this level with less buying pressure being recorded on the 4-hour chart by both the MACD and the RSI.

Litecoin USD 4-hour Chart – Source: Tradingview.com

The price of Litecoin in USD has fallen back to the level where it broke down in October at $57.49.

Price had met resistance at this level last week but managed to overcome it after numerous tests given the high amounts of buying pressure.

However, with lower amounts of buying pressure, the price is likely to test this level as support.

Dash USD Daily Chart – Source: Tradingview.com

Dash had a strong start to last week but failed to overcome a former level at $95 which has acted as both support and resistance.

Price tested the level during yesterdays price action but has since started to retrace.

Dash 4-Hour Chart – Source: Tradingview.com

Below price lies a level at $88 which has also acted as both support and resistance in prior price action.

A bearish divergence formed between price and RSI on the 4-hour chart before the price began falling from yesterdays high.

Key takeaways: Litecoin likely to reverse after forming a triple bearish divergence on the USD chart and reaching a key level on the Litecoin versus Bitcoin chart. Dash recorded a strong performance at the start of last week and now trades between support at $88 and resistance at $95. A bearish divergence from on the Dash 4-hour chart preceded its price drop from yesterdays high. Latest Litecoin & Dash News:

Litecoin [LTC] & Dash Price Action: Double Divergence Setting Litecoin up for a Drop?

Litecoin Price Prediction: Did LTC Make a Top?

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Litecoin [LTC] & Dash Technical Analysis – Is Litecoin Set for a Reversal With a Triple Bearish Divergence? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 74.17 (+0.59%)
Объем 24H $359.904m
Изменеия 24h: -0.85 %, 7d: -3.89 %
Cегодня L: $72.39 - H: $74.78
Капитализация $5.538b Rank 20
Цена в час новости $ 59.54 (24.57%)

bearish litecoin divergence forms reversal triple price

bearish litecoin → Результатов: 126


Market Action Report: Bitcoin, Ethereum, Ripple, Stellar & Litecoin Waver as BAT & ETC Rise on Coinbase Hype

Cryptocurrency values have taken a bearish turn this week as negative market sentiment suppresses a minor late-July rally, with most major alts taking a hit as confidence in Bitcoin wavers. Positive news from crypto trading giant Coinbase, however, has provided both Ethereum Classic and Basic Attention Token with immunity from bearish market action.

2018-8-7 07:12


Litecoin and Bitcoin Cash could Smoke as Robinhood decides to add them

The competition for who will be the leader in online cryptocurrency trading platform was increased as one of the major platforms Robinhood announced an update in its trading platform. Although the market presently is sluggish and many did not expect this to happen presently due to the bearish nature of the market, that they will […] The post Litecoin and Bitcoin Cash could Smoke as Robinhood decides to add them appeared first on ZyCrypto.

2018-7-13 22:23


Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin

Austin-based cryptocurrency hedge fund Multicoin Capital is long Ethereum as well as EOS while short both Litecoin and Ripple’s XRP. Backed by Andreessen Horowitz’s Marc Andreessen and Union Square Venture’s Chris Dixon among others, the $75 million fund is defending its most significant position: EOS, a currency that raised $4 billion through an ICO last month […] Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-3 01:24