{"id":8315,"date":"2022-02-18T22:56:25","date_gmt":"2022-02-18T22:56:25","guid":{"rendered":"http:\/\/egrowonline.com\/?p=8315"},"modified":"2022-02-18T22:56:25","modified_gmt":"2022-02-18T22:56:25","slug":"litecoin-develops-bullish-buying-pattern-before-ltc-hits-150","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=8315","title":{"rendered":"Litecoin develops bullish buying pattern before LTC hits $150"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Litecoin price action develops a pattern seen across the altcoin space: the inverse head-and-shoulders pattern.<\/strong><\/li>\n<li><strong>LTC faces a strong cluster of resistance before it can move towards the $200 value area.<\/strong><\/li>\n<li><strong>Downside risks are significant and highly probable.<\/strong><\/li>\n<\/ul>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/litecoin-price-set-to-break-the-downtrend-as-relief-rally-sweeps-markets-202202161529\" rel=\"noopener\">Litecoin price<\/a> faced significant selling pressure on Thursday, following other risk-on markets lower due to war jitters and continued inflation worries. However, that didn\u2019t stop LTC from developing a likely bullish reversal setup.<\/p>\n<h2 class=\"fxs_headline_medium\">Litecoin price must cross and close above $143 to prevent further bearish pressure<\/h2>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/litecoin-price-hints-at-27-rally-as-ltc-forms-bullish-setup-202202150502\" rel=\"noopener\">Litecoin price<\/a> has a massive collection of resistance levels ahead that it must break before extending into a bull market. Between the price levels of $130 to $143, Litecoin must break the following technical levels:<\/p>\n<ol>\n<li>Daily Tenkan-Sen at $130<\/li>\n<li>38.2% Fibonacci retracement at $132<\/li>\n<li>Top of the Ichimoku Cloud (Senkou Span B) at $133<\/li>\n<li>The neckline of the inverse head-and-shoulders pattern at $140<\/li>\n<li>50% Fibonacci retracement at $143<\/li>\n<\/ol>\n<p>The number of resistance levels and the strength of those levels may prove to be a daunting task \u2013 but certainly not insurmountable. The most critical, near-term level for bulls to target is a close above the Ichimoku Cloud at or above $133. In that scenario, most of the short-term bearish outlook would be eliminated.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-637807879309184391.png\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-637807879309184391.png\" style=\"width: 2518;height: 1284\" \/><\/a><\/p>\n<p><small>LTC\/USD Daily Ichimoku Kinko Hyo Chart<\/small><\/p>\n<p>However, bears are not far away from achieving a move that could trigger a considerable sell-off below the $100 level. If the Chikou Span closes at or below $106, it will be below the bodies of the candlesticks and in open space \u2013 initiating an Ideal Bearish Ichimoku Breakout. From there, a push towards $95 for <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/litecoin-price-into-breakout-zone-as-bulls-flock-in-202202091450\" rel=\"noopener\">Litecoin price<\/a> is highly probable.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Litecoin price prepares for a 35% breakout\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/WyBJMVfHi-w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/litecoin-develops-bullish-buying-pattern-before-ltc-hits-150-202202182217\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin price action develops a pattern seen across the altcoin space: the inverse head-and-shoulders pattern. LTC faces a strong cluster of resistance before it can move towards the $200 value area. Downside risks are significant and highly probable. Litecoin price faced significant selling pressure on Thursday, following other risk-on markets lower due to war jitters [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[359,1140,5278,259,199,262,178],"class_list":["post-8315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-bullish","tag-buying","tag-develops","tag-hits","tag-litecoin","tag-ltc","tag-pattern"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/litecoin_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8315"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8315\/revisions"}],"predecessor-version":[{"id":8316,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8315\/revisions\/8316"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/5477"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8315"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}