Litecoin Logarithmic Weekly Chart – Source:

A look at the logarithmic Weekly chart shows us that price has fallen all the way into the $20-$25 area of support created by the highs of 2014. There is a substantial amount of support here.

If price were to break down below $20, the next level of support would be in the $3-$5 area, which was the trading range for 18 months after the 2014 bear market.

Long-Term Outlook

Litecoin Weekly Chart – Source:

Staying with the Weekly timeframe, a look at the indicators paints a bearish picture. Price has fallen below the 200-period average for the first time (Solid white line), and there have been two bearish crosses between the 7-21 and 7-50 period averages respectively(yellow arrows).

It is worth checking if the price will make/reject a bearish cross between the 7-200 period averages. Furthermore, we have another bearish cross in the MACD, implying that there is room for a continued fall.

Medium-Term Outlook

Litecoin Daily Chart – Source:

A look at the daily chart gives us a more positive outlook. There is solid bullish divergence developing in both the RSI and the MACD. However, the price is facing resistance from both the 7 and 21 period moving averages.

If price were to bounce, there is strong resistance at the $50 level, which is the previous level of support from which price broke down in a descending triangle in the 14th of November.

Short-Term Outlook

Litecoin 2-Hour Chart – Source:

A look at the 2hr chart finally gives us a structure in which price is trading in. Price is currently moving in in a symmetrical triangle, and there is a strong support line in both the RSI and the Chaikin Oscillator.


  • Price is currently in the $20-25 area of support.
  • The next area of support is $3-5.
  • Bullish divergence developing in medium timeframes.
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