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Technical Analysis of Litecoin July 2019

We provide a technical analysis of Litecoin July 2019 with monthly, weekly , daily and hourly charts.

An American provider of investment data Weiss Ratings ranks Litecoin as an excellent investment crypto asset (B-rate) with an increasing adoption rate.

The risk to reward ratio of investment in the fourth largest cryptocurrency by market capitalization is considered fair by Weiss Ratings.

Litecoin is also in collaboration with Bibox exchange and Ternio to launch a “Blockcard” a cryptocurrency debit card that will allow users to spend online as well as physical sites.

Let’s go ahead to analyze the technical charts and see how it aligns with the recent news.

Cryptocointrade always provide the latest crypto technical analysis and fundamental analysis with price predictions.

Technical Analysis of Litecoin July 2019

Technical Analysis of Litecoin July 2019 – Monthly Chart

Technical Analysis of Litecoin July 2019 Monthly Chart

The monthly time frame offers a bird’s eye view of the technical analysis of Litecoin in July 2019. The LTCUSD crypto pair supports the claims by Weiss Ratings of providing a moderate risk to reward ratio.

Following a double bearish accumulation that triggered the last price decline of 2018, the pair signaled an opposite breakout of bearish accumulation on 01 February ’19.

From the breakout point, the price increased by about 211.5% compared to a potential risk of about 54%, and a current peak at 146.95 USD.

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Technical Analysis of Litecoin July 2019 – Weekly Chart

Technical Analysis of Litecoin July 2019 Weekly Chart

Notice the exit of overbought region and breakdown of bullish accumulation pattern was signaled on 24 June ’19 after a series of eight bullish closing candles from a bear trap signal on 29 April ’19 setting support at 68.834 USD. The breakdown of bullish support on 24 June indicates a strong presence of Bears in the market, and the price may retrace deeper into the earlier gains.

Technical Analysis of Litecoin July 2019 – 

Daily Chart

Technical Analysis of Litecoin July 2019 Daily Chart

The price appears to be enclosed in an ascending channel. Only time will tell how this will play out, although, our bias is towards the upside as the hidden bullish divergence formed on 28 June ’19 shows sound support at 110.680 USD.

Technical Analysis of Litecoin July 2019 – 

4-HOUR Chart

Technical Analysis of Litecoin July 2019 H4 Chart

Litecoin LTC price from a 4hour perspective signaled a breakdown of bullish accumulation on June 23 ’19 15:00 with support at 146.950, then later eased into a bearish trend line formed from two resistance patterns on June 24 and 25 ’19.

Both 137.71 and 137.97 resistance eased signaled an increase in selling pressure forcing the price south by about 16.5%.

An opposite breakout of bearish accumulation on June 28 ’19 03:00 set support at 110.68 USD for about 13.7% price increase.

It’s been a rollercoaster as the pair again signaled another breakdown of bullish accumulation on June 29 ’19:00 23:00, which has led to approximately 13.5% price decline.

 

Technical Analysis of Litecoin July 2019 – 

2-HOUR Chart

Technical Analysis of Litecoin July 2019 1H Chart

Notice the double bearish accumulation pattern on June 26 ’19 14:00, which indicates an increase in selling pressure.

The regular bullish divergence pattern coincides with an exit of the oversold territory on June 27 ’19 17:00, setting support at 111.56.

Following a bullish rally of 15.6% from the bullish divergence, the bulls ran out of steam on June 29 ’19 21:00 and yield to selling pressure for an opposite bearish price decline.

At press time, while trading close to the oversold territory, the price signals a regular bullish divergence on July 01 ’19 15:00 with support at 114.18.

Conclusion and Projection - Technical Analysis

The above technical analysis show a more bullish than bearish outlook for the Litecoin LTC.  We’ll be on the lookout for a breakout of bearish resistance on the 4hour and daily time frames for safer and lower risk entry points.

See our blogs for further crypto technical analysis and fundamental analysis.

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