{"id":568022,"date":"2024-01-04T18:00:27","date_gmt":"2024-01-04T18:00:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=568022"},"modified":"2024-01-04T13:18:10","modified_gmt":"2024-01-04T13:18:10","slug":"litecoin-bear-flag-41-crash-level-analyst-explains","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin\/litecoin-bear-flag-41-crash-level-analyst-explains\/","title":{"rendered":"Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains"},"content":{"rendered":"

An analyst has explained that a bear flag is potentially forming for Litecoin, which, if confirmed, might cause a decline for LTC to this level.<\/p>\n

Litecoin Could Be In Danger Of Deep Decline Due To This Bear Flag<\/h2>\n

In a post<\/a> on X, analyst Ali has pointed out a possible bear flag taking form for Litecoin. A “bear flag<\/a>” is a pattern in technical analysis that, as its name implies, looks like a flag on a pole.<\/p>\n

The pattern takes shape when the asset observes a sharp downward move and follows it up with a period of consolidation. This consolidation happens toward a slight overall uptrend, meaning that its upper level is created by connecting higher highs, while the lower line joins together higher lows.<\/p>\n

Related Reading: Crypto Futures Razed To Ground As $659 Million Rekt With Bitcoin Crash<\/a><\/div>\n

The downtrend prior to the consolidation makes up for the pole, while the channel looks like a flag. Inside the flag, the price is naturally likely to feel resistance at the upper level, while support is at the lower one.<\/p>\n

The bear flag is popularly considered a continuation pattern, meaning that the downtrend would continue after the pattern forms. This continuation happens as the price finally ends its consolidation and crashes through the lower level of the flag.<\/p>\n

Like the bear flag, there is also the “bull flag<\/a>,” which forms in the opposite circumstances. In the case of this pattern, the price breaks out with a sharp upward move after the consolidation period toward the downside finishes.<\/p>\n

Now, here is the chart shared by the analyst that sheds light on a possible bear flag forming in the 3-day price of Litecoin:<\/p>\n

\"Litecoin<\/p>\n

The pattern currently forming in the 3-day price of the cryptocurrency | Source: @ali_charts on X<\/a><\/pre>\n
From the graph, it’s visible that Litecoin’s 3-day price has possibly been consolidating inside a bear flag during the last few months. With the latest crash in the asset, though, the price appears to finally be breaking out of the pattern towards the down direction.<\/p>\n
This plunge in the coin has occurred as the rest of the cryptocurrency sector has also reverberated with a crash<\/a>. Unlike many other assets, however, LTC never enjoyed any sharp rally to kickstart the year, so the plummet has been especially damaging for it.<\/p>\n
“Post-recent dip, the outlook for Litecoin <\/span>appears challenging,” notes Ali. “If the selling pressure continues, LTC<\/span> might see a push down to $38, potentially confirming a bear flag formation.”<\/span><\/p>\n
Related Reading: Bitcoin Plunges Below Support As Price Crashes To $42,500<\/a><\/div>\n
Generally, breakouts from any flag pattern are of about the same length as the preceding pole, which is why the analyst has selected this target. If Litecoin’s potential drawdown does play out in this fashion, then the asset would have seen a decrease of more than 41% from the current price levels.<\/p>\n
LTC Price<\/h2>\n
Litecoin had been floating above the $73 mark just earlier, but following this 11% crash, the coin is now down to just $65.<\/p>\n
\"Litecoin<\/p>\n
Looks like the price of the coin has been moving sideways since the plunge | Source: LTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
An analyst has explained that a bear flag is potentially forming for Litecoin, which, if confirmed, might cause a decline for LTC to this level. Litecoin Could Be In Danger Of Deep Decline Due To This Bear Flag In a post on X, analyst Ali has pointed out a possible bear flag taking form for Litecoin. A “bear flag” is a pattern in technical analysis that, as its name implies, looks like a flag on a pole. The pattern takes shape when the asset observes a sharp downward move and follows it up with a period of consolidation. This consolidation happens toward a slight overall uptrend, meaning that its upper level is created by connecting higher highs, while the lower line joins together higher lows. Related Reading: Crypto Futures Razed To Ground As $659 Million Rekt With Bitcoin Crash The downtrend prior to the consolidation makes up for the pole, while the channel looks like a flag. Inside the flag, the price is naturally likely to feel resistance at the upper level, while support is at the lower one. The bear flag is popularly considered a continuation pattern, meaning that the downtrend would continue after the pattern forms. This continuation happens as the price finally ends its consolidation and crashes through the lower level of the flag. Like the bear flag, there is also the “bull flag,” which forms in the opposite circumstances. In the case of this pattern, the price breaks out with a sharp upward move after the consolidation period toward the downside finishes. Now, here is the chart shared by the analyst that sheds light on a possible bear flag forming in the 3-day price of Litecoin: The pattern currently forming in the 3-day price of the cryptocurrency | Source: @ali_charts on X From the graph, it’s visible that Litecoin’s 3-day price has possibly been consolidating inside a bear flag during the last few months. With the latest crash in the asset, though, the price appears to finally be breaking out of the pattern towards the down direction. This plunge in the coin has occurred as the rest of the cryptocurrency sector has also reverberated with a crash. Unlike many other assets, however, LTC never enjoyed any sharp rally to kickstart the year, so the plummet has been especially damaging for it. “Post-recent dip, the outlook for Litecoin appears challenging,” notes Ali. “If the selling pressure continues, LTC might see a push down to $38, potentially confirming a bear flag formation.” Related Reading: Bitcoin Plunges Below Support As Price Crashes To $42,500 Generally, breakouts from any flag pattern are of about the same length as the preceding pole, which is why the analyst has selected this target. If Litecoin’s potential drawdown does play out in this fashion, then the asset would have seen a decrease of more than 41% from the current price levels. LTC Price Litecoin had been floating above the $73 mark just earlier, but following this 11% crash, the coin is now down to just $65. Looks like the price of the coin has been moving sideways since the plunge | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":568043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10,91053,2776,91054,15977,2828,2831],"class_list":["post-568022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-litecoin","tag-litecoin-bear-flag","tag-litecoin-bearish","tag-litecoin-crash","tag-litecoin-price-prediction","tag-ltc","tag-ltcusd"],"acf":[],"yoast_head":"\nLitecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains<\/title>\n<meta name=\"description\" content=\"An analyst has explained that a bear flag is forming for Litecoin, which, if 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains","url":"http:\/\/uniquehot.com\/news\/litecoin\/litecoin-bear-flag-41-crash-level-analyst-explains\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/litecoin\/litecoin-bear-flag-41-crash-level-analyst-explains\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-xD4eg7U6MM8-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-xD4eg7U6MM8-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["litecoin","litecoin bear flag","litecoin bearish","litecoin crash","litecoin price prediction","ltc","ltc\/usd"],"dateCreated":"2024-01-04T18:00:27Z","datePublished":"2024-01-04T18:00:27Z","dateModified":"2024-01-04T18:00:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin\\\/litecoin-bear-flag-41-crash-level-analyst-explains\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin\\\/litecoin-bear-flag-41-crash-level-analyst-explains\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-xD4eg7U6MM8-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/kanchanara-xD4eg7U6MM8-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"litecoin\",\"litecoin bear flag\",\"litecoin bearish\",\"litecoin crash\",\"litecoin price prediction\",\"ltc\",\"ltc\\\/usd\"],\"dateCreated\":\"2024-01-04T18:00:27Z\",\"datePublished\":\"2024-01-04T18:00:27Z\",\"dateModified\":\"2024-01-04T18:00:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/kanchanara-xD4eg7U6MM8-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568022"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=568022"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/568043"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=568022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=568022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=568022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}