Litecoin – xMetaMarkets.com / Online Innovative Trading Facility Mon, 20 Jun 2022 18:57:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2022/07/cropped-Logo-menu-32x32.png Litecoin – xMetaMarkets.com / 32 32 Litecoin Continues to Look Vulnerable /2022/06/20/litecoin-continues-to-look-vulnerable/ /2022/06/20/litecoin-continues-to-look-vulnerable/#respond Mon, 20 Jun 2022 18:57:53 +0000 https://excaliburfxtrade.com/2022/06/20/litecoin-continues-to-look-vulnerable/ [ad_1]

The only thing I would do in this market is either short it, or avoid it altogether.

Litecoin continues to look vulnerable, although we did gain a minuscule amount Friday. The $40 level underneath continues to be supported, and I just don’t see how we don’t break through there eventually. Crypto’s dead and will be for a couple of years at the rate things are going. You cannot have this much fraud in an asset class and have people believing that it is something that they should invest in.

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We are starting to see yet another Ponzi scheme come undone during the day, this time in Babel. This is another “crypto financial services firm” that has suspended client withdrawals. In an environment like this, nobody wants to be bothered with an asset that can suddenly disappear. This is a fresh concern after Celsius did the same thing just five days before. In other words, the crypto space is coming undone, and the smaller coins such as Litecoin are going to continue to get punished as a result.

It’s not necessarily that Litecoin has done anything, it’s just that people were running away from this market. With Bitcoin almost certainly breaking below $20,000 this weekend, it’s difficult to imagine that Litecoin is going to have a good go. Once we break below the $40 level, Litecoin more than likely will go to the $20 level next. After that, we could be talking about single digits, possibly even zero before it’s all said and done.

After all, in an environment like this, a lot of ecosystems will have to disappear. Venture capital has completely left the space, so now it’s going to have to actually prove itself to be worthwhile. It’s been over 10 years, and we have yet to find a day-to-day use for crypto, so I suspect we’ve got a couple of years of nothing.

Having said that, if you are lucky enough to build up a position in an ecosystem that comes up with something in the real world, you are probably going to make a fortune. The biggest trick right now is figuring out which one that’s going to be. It’s almost certainly not going to be Litecoin, or any of the other alts in the near term. Because of this, the only thing I would do in this market is either short it, or avoid it altogether.

LTC/USD

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Litecoin Continues to Look Miserable /2022/06/10/litecoin-continues-to-look-miserable/ /2022/06/10/litecoin-continues-to-look-miserable/#respond Fri, 10 Jun 2022 00:18:51 +0000 https://excaliburfxtrade.com/2022/06/10/litecoin-continues-to-look-miserable/ [ad_1]

We are about to see a wipeout in the crypto markets because the speculation got so out of control.

Litecoin threatened the $60 level on Wednesday as it looks like we are ready to break down again. There is quite a bit of support underneath that shows signs of life, based upon the previous hammer, but it certainly looks as if we are going to fall and test that level again. Because of this, I think we have a situation where the market will eventually try to slice through all of that area.

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If it does, that opens up a move to at least $40, perhaps even down to the $30 level. Frankly, there’s nothing from a technical analysis standpoint that even remotely suggests that Litecoin should be trusted for purchase, and I think we have much further to go to the downside. This is probably easy to say for most crypto coins, not just Litecoin, so it’s not necessarily going to be an indictment on the Litecoin ecosystem, rather than an indictment on crypto in general. Because of this, I look at any rally as a shorting opportunity and do so on offshore exchanges that allow leverage.

It’s not until we break above the $80 level at the very least that you could say that momentum is picking up because you would then see the 50-day EMA broken. Even then, I think you will struggle to get above $100, if for no other reason than the psychology behind it. I believe Litecoin is going to follow the rest of the crypto down quite a bit from here because even though most crypto has dropped at least 60 or 70%, it can drop another 50% from these low levels. Crypto winter is here for a lot of the smaller markets, and now they need to see Bitcoin save the whole situation, or things could get rather ugly.

While I don’t necessarily think Litecoin is going to zero, there will be several coins out there that do. We are about to see a wipeout in the crypto markets because the speculation got so out of control. Most of these crypto markets are based upon something that could possibly happen down the road, but certainly is not happening right now. Sooner or later, people will come to realize that only a couple of these can survive, due to the fact that so many of them are trying to accomplish the same thing.

LTC/USD

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LTC/USD Forecast: Litecoin Has Quiet Tuesday /2022/06/02/ltc-usd-forecast-litecoin-has-quiet-tuesday/ /2022/06/02/ltc-usd-forecast-litecoin-has-quiet-tuesday/#respond Thu, 02 Jun 2022 02:56:21 +0000 https://excaliburfxtrade.com/2022/06/02/ltc-usd-forecast-litecoin-has-quiet-tuesday/ [ad_1]

I feel that there’s no compelling reason to be a buyer at this point.

Litecoin pulled back ever so slightly on Tuesday as we try to figure out whether or not there is any real hope for the crypto markets turning around. We did have a decent Monday, but it should be noticed that it was Memorial Day in the United States, so a lot of the American institutional traders were not trading.

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It’s also worth noting that there is a lot of noise just above as we had been going sideways for a couple of weeks, broke down below that level, and now are retesting that same area. In other words, we may see more sellers jump back into the market. It looks to me as if the 50-day EMA above will continue to cause downward pressure as well, which currently sits near the $83 level.

If we do break down, it’s very likely that Litecoin will go looking to reach the $50 level, and then maybe even the $40 level after that. This is a market that has been in a downtrend for quite some time, and it’s worth noting that the spread between the 50-day EMA and the 200-day EMA is almost perfect as far as a picture of a sustainable downtrend is concerned.

It’s very likely the crypto is about to see a lot of coins disappear because most of them have no real use case scenario. I personally have used Litecoin, and I like it a lot. However, adoption is a major problem and I think we are getting close to a situation where we will probably see half of these coins disappear, if not more than that. This is the natural cycle of things when it comes to technology, as we had seen in 1999 when so many of the hot tech stocks disappeared.

In an environment where risk appetite is scarce, it’s difficult to imagine that a lot of major institutional players are going to throw a ton of money at Litecoin. However, it’s very likely that it will survive, but I think that we have a rough couple of months at the very least ahead of us, so I feel that there’s no compelling reason to be a buyer at this point. In fact, what I would like to see is a lot of sideways and quiet action where people get used to whatever price we are trading at.

LTC/USD

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Litecoin Continues to Drift Lower /2022/05/27/litecoin-continues-to-drift-lower-2/ /2022/05/27/litecoin-continues-to-drift-lower-2/#respond Fri, 27 May 2022 19:30:34 +0000 https://excaliburfxtrade.com/2022/05/27/litecoin-continues-to-drift-lower-2/ [ad_1]

Look at rallies as a potential shorting opportunity.

Litecoin markets have fallen a bit during the trading session on Thursday to reach the $60 level. We have turned around to show signs of life since then, so it does suggest that Litecoin is going to try to bounce just a bit. Nonetheless, this is a market that is in a strong downturn, and I think at this point it is only a matter of time before we start shorting again.

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The 50 Day EMA sits at the $90 level and is driving much lower. This is a market that continues to see a lot of downward pressure over the longer term, and I just don’t see how Litecoin takes off to the upside due to the fact that crypto in general is struggling. If we break down below the $60 level, that would show a huge move to the downside given enough time, perhaps reaching down to the $50 level. Regardless, even if we do break out from here, I’ll be looking for selling opportunities at higher levels.

Litecoin is essentially too far out on the risk spectrum to think that it can go anywhere without some of the more “common coins” rallying. Bitcoin and Ethereum both need to rally before Litecoin will for anything worthwhile. As long as crypto markets continue to struggle, Litecoin will follow right along with the rest of them. Oddly enough, Monero is the only one I’ve seen recently that has been strong enough to be interested in. At this point, there is nothing going on in the world of Litecoin that’s worth being bothered with.

I feel that the market is looking very much like the technology stocks in 1999, that we are starting to separate the useful coins from the useless ones. Back then, there were a whole host of overvalued technology stocks that caused a big crash. After that, we had some of the massive leaders in technology emerge. That’s probably what’s going to happen with Bitcoin and Ethereum, but anything farther out on the risk spectrum is still purely speculative. Whether or not Litecoin survives for the bigger move is a completely different question, but it certainly is at risk of falling apart and perhaps even going to zero, right along with many other altcoins. In the meantime, look at rallies as a potential shorting opportunity.

Litecoin chart

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Litecoin Continues to Do Nothing /2022/05/24/litecoin-continues-to-do-nothing/ /2022/05/24/litecoin-continues-to-do-nothing/#respond Tue, 24 May 2022 04:12:44 +0000 https://excaliburfxtrade.com/2022/05/24/litecoin-continues-to-do-nothing/ [ad_1]

I will look for opportunities to short Litecoin, right along with the other alt coins around the crypto world.

Litecoin continues to go sideways around the $67.50 level, as we have been consolidating for a week. The question now is whether or not we are trying to build some type of base, or if we are taking a bit of a breather before we start shorting again. Nothing in crypto looks very good at the moment, so I do believe that it is probably only a matter of time before we see Litecoin get hammered.

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We could get a bit of a rally in the short term, and if we break above the $75 level, we could see a potential bounce at that point. If we do bounce like that, it is possible that we could go to the 50-day EMA, or even the $100 level. The $100 level is an area where we have seen previous support, which should now offer significant resistance. Because of this, the market will continue to see a lot of interest in that area, and I would short any signs of exhaustion after a bounce to that region.

That being said, crypto looks miserable and it is worth noting that risk appetite is all but shot at this point. Because of this, I think that it is more likely than not we are going to break down. Last week we ended up forming a bit of a hammer, so if we break down below it, Litecoin could get sold off quite drastically. At that point, I would anticipate that Litecoin would break the $50 barrier, perhaps dropping significantly.

Keep in mind that the Federal Reserve has been tightening monetary policy, and it looks as if it is going to keep doing so. Because of this, traders are nervous about anything related to risk and risk appetite, which of course Litecoin is. The crypto markets in general continue to be very bearish, and as a result I think that some of the smaller markets will certainly get crushed. Until the Federal Reserve changes its tune, and we start to get more appetite for risk, there is no way that Litecoin can sustain any type of gains. Because of this, I will look for opportunities to short Litecoin, right along with the other alt coins around the crypto world. In fact, I do not think some of these are going to survive.

LTC/USD

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Litecoin Pulls Back Again on Wednesday /2022/05/20/litecoin-pulls-back-again-on-wednesday/ /2022/05/20/litecoin-pulls-back-again-on-wednesday/#respond Fri, 20 May 2022 02:39:51 +0000 https://excaliburfxtrade.com/2022/05/20/litecoin-pulls-back-again-on-wednesday/ [ad_1]

Crypto is in a bit of a freefall, and you have to look at rallies as a potential selling opportunity going forward.

Litecoin initially tried to rally on Wednesday but gave back the gains to show less than bullish behavior. Ultimately, Litecoin is in a downtrend and much like the rest of the crypto markets, looking for some type of bottom. That being said, the bottom is nowhere to be found and I do think that we will go much lower from here. The candlestick from last week that ended up forming a hammer showed that the $60 level could be a bit supportive, but I think it is probably somewhat limited in its support.

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Litecoin is going to follow the rest of the crypto markets, and by extension, Bitcoin. It is Bitcoin that calls the shots for the rest of the crypto markets, and until we can get some time of bullish momentum in the market, smaller coins such as Litecoin will continue to fall. While ironic, the reality is that crypto is a risk asset, and not nearly as “decentralized” as a lot of fanboys had hoped. This is what happens when institutional money comes into the marketplace, it starts to act like every other asset. You need to understand that institutional traders do not care about the use case scenario of Litecoin, Bitcoin, or even Ethereum. What they are concerned about is volatility and return on capital.

As volatility has gotten out of hand when it comes to risk assets, money flows out of places like Bitcoin and into safer spots. At this point, just about anything is safe in comparison to the crypto markets, so please keep that in mind. Ultimately, this is a market that has a major ceiling at the $100 level and is not until we break above there that you can take any rally seriously. Furthermore, you would need to see at least three days in a row of bullish pressure in Bitcoin, perhaps even strong ones to show conviction. Pay close attention to volume, as it can give you a bit of a “heads up” as to where we go next.

A breakdown below the bottom of the hammer from last week opens up a move down to the $50 level, and then eventually the $40 level after that. Crypto is in a bit of a freefall, and you have to look at rallies as a potential selling opportunity going forward.

LTC/USD

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Litecoin Forecast: Attempted to Recover /2022/05/16/litecoin-forecast-attempted-to-recover/ /2022/05/16/litecoin-forecast-attempted-to-recover/#respond Mon, 16 May 2022 13:12:14 +0000 https://excaliburfxtrade.com/2022/05/16/litecoin-forecast-attempted-to-recover/ [ad_1]

Litecoin has rallied a bit during the trading session on Friday to break above the top of the hammer from the previous session. By doing so, it does suggest that perhaps we are trying to get a little bit of a short-term rally, but that rally should be an opportunity to short this market yet again. After all, Litecoin has been significantly bearish for quite some time, and therefore it is probably only a matter of time before we see sellers step back in and take advantage of “cheap dollars.”

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I do think that we probably have an opportunity to rally a bit, but the $100 level should be a massive resistance barrier as it had been previous support. The $100 level of course has a lot of psychology attached to it as it is a large, round, psychologically significant figure. A “fade the rally” type of mentality will probably continue to be the way this market moves, as we have sold off quite too drastically in a short amount of time.

On the other hand, if we were to break down below the hammer from the session on Thursday, that could open up the floodgates of selling. It is probably worth noting that the hammer sits right on the $50 level, which has a certain amount of psychology attached to it as well. Breaking down below there then opens up the possibility of a move down to the $40 level, maybe even the $25 level. Keep in mind that Litecoin is a small market and will be overly influenced by the likes of Bitcoin and Ethereum. As long as those continue to struggle from a longer-term perspective, it is likely that the Litecoin market will fall right along with it.

At this point, the Bitcoin market looks as if it is going to try to rally, and I suspect that if you overlay the Bitcoin market chart on top of the Litecoin market chart, it all looks the same. In other words, one will lead the other, and therefore you need to wait to see if Bitcoin can sustain its strength in order to get Litecoin bullish as well. If Bitcoin rallies a bit and starts to selloff, then Litecoin will almost certainly do the same and therefore you can use it as a secondary indicator.

Litecoin

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Litecoin Consolidates Near Large Figure /2022/05/10/litecoin-consolidates-near-large-figure/ /2022/05/10/litecoin-consolidates-near-large-figure/#respond Tue, 10 May 2022 01:34:15 +0000 https://excaliburfxtrade.com/2022/05/10/litecoin-consolidates-near-large-figure/ [ad_1]

If we see Bitcoin and Ethereum start to sell off, then the rest of these markets will continue to fall as well. 

Litecoin fell a bit on Friday only to turn around and show signs of support. The market looks as if it is trying to form a bit of a hammer, which of course is a supportive-looking candlestick. Nonetheless, it is worth noting that the market continues to see sellers every time we rally, and Litecoin continues to show signs of downward momentum.

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Furthermore, larger crypto markets are failing such as Bitcoin and Ethereum, and as long as that is going to be the case, it is very likely that these other crypto assets will continue to fall. The market breaking down below the bottom on the hammer could kick this market down to lower levels, perhaps down to the $80 level. We have been in a downtrend for quite some time, and I just do not see that changing anytime soon.

That being said, if we do rally from here, I think there are going to be a couple of areas that we need to pay close attention to. The $100 level would be the first barrier that we need to overcome, but if we can break above there then we will go looking towards the $106 level, an area where we have seen resistance earlier this week. Breaking above that opens up the possibility of a move to the 50-day EMA, currently sitting at the $111.65 level and falling.

It is not until we break above all of those areas that I would consider going long of Litecoin, because it continues to look very vulnerable, and it is worth noting that each successive high has gone lower, the very epitome of a downtrend. The question now is whether or not we are going to kick-off to the downside, essentially cementing the idea of a descending triangle. If we do, I anticipate that Litecoin will go much lower, perhaps down to the $75 level, maybe even lower than that.

If we see Bitcoin and Ethereum start to sell off, then the rest of these markets will continue to fall as well. After all, altcoin markets tend to be highly sensitive to the overall risk profile of traders, with crypto being far out of the spectrum, and the smaller markets are on the very end of the risk appetite spectrum.

LTC/USD

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Litecoin Finds Support at Familiar Level /2022/05/03/litecoin-finds-support-at-familiar-level/ /2022/05/03/litecoin-finds-support-at-familiar-level/#respond Tue, 03 May 2022 14:50:50 +0000 https://excaliburfxtrade.com/2022/05/03/litecoin-finds-support-at-familiar-level/ [ad_1]

At this point, I am still bearish, but I also recognize that we are in an area where we could see short-term recovery in Litecoin.

Litecoin fell a bit on Monday to pierce the $100 level. However, we have recovered a bit to form a bit of a hammer, so it is like likely that we will continue to bounce around in this area. That being said, if you remember, I had mentioned a couple of weeks ago that we kept making lower highs, and that does suggest that we could very well break down through all of the support given enough time.

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Breaking down below the $95 level would open up quite a bit of negativity, and I think at that point it would more than likely go looking to the $75 level. After that, the market could go looking to get down to the $50 level. Obviously, that would be a very negative turn of events, and it would probably have something to do with the market going into “crypto winter.” In other words, crypto markets overall would continue to do very little, or perhaps even fall. We have seen this a couple of times in the past, and it certainly looks as if we are threatening to do that currently. In that scenario, smaller coins such as Litecoin would almost certainly get crushed.

On the upside, if we were to break above the $105 level, then we could make a move toward the 50-day EMA. The 50-day EMA currently sits just below the $114 level, and it is very likely that we would see a little bit of a pullback. Breaking above there would open up the possibility of a bigger move, and in that area, I would anticipate a move to the $120 level. In that scenario, we would see crypto, in general, take off to the upside, so obviously bigger coins would lead the way as per usual. Litecoin will not be able to take off to the upside unless something specific to Litecoin itself happens without others leading the way. That being said, we are most certainly in an area where there has been a lot of support in the past, so one would have to think that at the very least we might see some stabilization in this general vicinity. At this point, I am still bearish, but I also recognize that we are in an area where we could see short-term recovery in Litecoin.

LTC/USD

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Litecoin Bounces Along the Bottom /2022/04/29/litecoin-bounces-along-the-bottom/ /2022/04/29/litecoin-bounces-along-the-bottom/#respond Fri, 29 Apr 2022 20:50:24 +0000 https://excaliburfxtrade.com/2022/04/29/litecoin-bounces-along-the-bottom/ [ad_1]

Are we in the midst of an accumulation phase?
 

Litecoin has bounced a bit during the session on Thursday, as we continue to see the $100 level offer a bit of support. There have been multiple attempts to break down through the $100 level, but so far, they have all been resisted. It is worth noting that the lows keep getting rejected, while the highs keep getting lower. Because of this, there is a certain amount of downward pressure and an attempt to break down, so it will be interesting to see if this plays out sooner or later.

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If we do break down below the $90 level, then I think it does smash through all of the support, opening up a massive amount of downward pressure. There has been such a huge attempt to support the market in this area, I would have to assume that breaching it would be a major turn of events. In that scenario, I think that we could see Litecoin get hammered. I would anticipate a move to the $75 level at the very least.

Keep in mind that Litecoin is a smaller cryptocurrency, so it is going to have influence thrust upon it by the larger markets such as Bitcoin. For what it is worth, Bitcoin did rally during the day, and it looks as if it is dancing around the $40,000 level. If Bitcoin can pick up a little bit of momentum, this likely will make Litecoin bounce a bit as well. From a technical analysis standpoint, this is a market that has been in a downtrend but is finding a hell of a lot of buying pressure underneath. The 50 Day EMA is sitting at the $115 level and breaking lower, so that might be the first target for the bulls.

If we can break above the 50 Day EMA, then the next target could very well be $135, where we had made a significant hi back in March. Regardless, it looks as if you probably have quite a bit of time to build up a position, as this is either pressure that is going to break the whole market down, or it is possible that we are in the midst of an accumulation phase. This is when larger money comes in and starts to pick up the asset, waiting for everybody else to jump in and push it higher.

LTC/USD Chart

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