Litecoin. Buy from a supporting moving average.

jsrenthourse

member

Activity: 238

Merit: 10

Quote from: ICEXch on March 04, 2018, 10:59:40 AM

In the last review on Litecoin, we wrote about the signal for purchase from the Macross.
After two weeks, the buy signal remains. The price is consolidating over the growing slow moving average, which is obviously now acting as a growing support level.
Today, trading is very close to this support.
Technically, this is a good time to open a growth position.
Target is in the area of $ 330- $ 375
Stop under $ 190
Profitable deals and follow our reviews!

All Technical Analyses from the ICEX team are on our website - https://app.icex.ch/en/feed/techical-analysis

#icex #bitcoin #Cryptocurrency #investment #exchange #analysis #technicalanalysis #Litecoin #LTCUSD

I think that we should not buy LTC at the moment, we can see that bitcoin prices are growing strongly in the past few days, but the market capitalization is not so strong, this shows that the market capitalization bitcoin, and altcoin will drop sharply in the coming days, indicating that if you invest in LTC you will surely lose money.

richminded

sr. member

Activity: 798

Merit: 268

Quote from: brushtooth on March 04, 2018, 04:04:46 PM

The support level seems to be pretty clear but as Frue said the target seems too high for me. It's more of a long term buy and hold strategy. I would like to sell near the resistance of $230 and then re-enter on any dips.

That’s good to secure some profit and I also think LTC can go higher this year but it will take time. Better to be secured but don’t forget to buu back because this is a great coin that you should have on your wallet.

setifien19

full member

Activity: 472

Merit: 101

Quote from: ICEXch on March 04, 2018, 10:59:40 AM

Target is in the area of $ 330- $ 375

Too high & exaggerated target ; it's more than +50℅ ==> this might be absolutely for medium/long term

Quote from: ICEXch on March 04, 2018, 10:59:40 AM

Stop under $ 190

The most appropriate limit value

Quote from: FrueGreads on March 04, 2018, 11:26:22 AM

litecoin needs to fight resistance at $230, $260 and $304, and it should take it a while to go through all those levels.

Exactly, cause the resistance at such levels will bring more strength to LTC and more faith in for investors

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: FrueGreads on March 04, 2018, 11:26:22 AM

I agree with your stop loss, but isn't the target to far from the next resistance lines? I would say litecoin needs to fight resistance at $230, $260 and $304, and it should take it a while to go through all those levels, because the volatility that we've seen on days like the 12th of December last year, are gone for now, and should remain that way, unless we see some major developments (amazon like developments, or institutional adoption, etc).

I would hold a stop loss on $190 like you've suggested, but I would take partial profits on the levels of resistance I've mentioned, or at least move my stop loss to those levels if the price does increase.

Was supposed to say with those 3 resistance levels before reaching out that target being mentioned on OP.We know it would really takes time to break those walls if we do already experience or gain those trend in last years then its possible. $190 stoploss is just fine but I would put myself on $180 and would take the risk.I cant really rely too much on moving averages when it comes to technical basis aspects.

brushtooth

member

Activity: 90

Merit: 11

The support level seems to be pretty clear but as Frue said the target seems too high for me. It's more of a long term buy and hold strategy. I would like to sell near the resistance of $230 and then re-enter on any dips.

FrueGreads

legendary

Activity: 1582

Merit: 1059

I agree with your stop loss, but isn't the target to far from the next resistance lines? I would say litecoin needs to fight resistance at $230, $260 and $304, and it should take it a while to go through all those levels, because the volatility that we've seen on days like the 12th of December last year, are gone for now, and should remain that way, unless we see some major developments (amazon like developments, or institutional adoption, etc).

I would hold a stop loss on $190 like you've suggested, but I would take partial profits on the levels of resistance I've mentioned, or at least move my stop loss to those levels if the price does increase.

ICEXch

jr. member

Activity: 88

Merit: 1

In the last review on Litecoin, we wrote about the signal for purchase from the Macross.
After two weeks, the buy signal remains. The price is consolidating over the growing slow moving average, which is obviously now acting as a growing support level.
Today, trading is very close to this support.
Technically, this is a good time to open a growth position.
Target is in the area of $ 330- $ 375
Stop under $ 190
Profitable deals and follow our reviews!

All Technical Analyses from the ICEX team are on our website - https://app.icex.ch/en/feed/techical-analysis

#icex #bitcoin #Cryptocurrency #investment #exchange #analysis #technicalanalysis #Litecoin #LTCUSD

Topic: Litecoin. Buy from a supporting moving average. (Read 81 times)