Litecoin Price Technical Analysis for 02/12/2015 - Sell Target Achieved
Key Highlights. Litecoin price fell sharply lower as our highlighted Double Top pattern on the hourly chart played well and pushed the price lower (data feed from Bitfinex). The price broke a major support area near $3.50, suggesting more losses in the near term. There might be a minor correction moving ahead as the hourly RSI is around the oversold readings. Litecoin price was crushed Intraday, as sellers managed to gain control taking it below a critical support area of $3.50. More Losses Ahead or Recovery in Litecoin Price? Litecoin price fell sharply Intraday, and traded towards $3.30....
Related News
Key Highlights. Litecoin price broke a major support area on the hourly chart (price feed from Bitfinex) and traded lower. Our initial sell target of $3.10 was achieved as forecasted in the recent technical analysis post. The price may attempt to correct higher in the short term and might face sellers near $3.15-20. Litecoin price moved lower sharply and failed to trade higher, suggesting that buyers are struggling to hold the ground. Support Turned Resistance. Finally, our previously highlighted $3.40 resistance area acted as a catalyst and pushed Litecoin price lower. A major support....
Litecoin price struggled to move higher Intraday. There was a downside reaction, taking the price towards our sell target of $3.0. Intraday Support Level (HitBTC) can be $3.05. Intraday Resistance Level (HitBTC) may be $3.16. Litecoin price moved a few points higher yesterday to trade near a bearish trend line formed on the 30-min chart (data feed via Bitfinex). I highlighted that we can plan on entering a sell trade near the highlighted trend line and resistance. It played well and if you entered a position, then it’s time to take profits, as our target of $3.0 was achieved. The price did....
In the past 24 hours, Litecoin price has swung from a low of $1.60 (my target achieved) to a high of $1.82, before giving up most of its gain to be trading at $1.71. In my yesterday's analysis titled Weak Stance, I advised against shorting the cryptocurrency at lower levels and to sell only on a rise. Litecoin may have derived its volatility from the turmoil in Bitcoin. But, it has also established a short-term trading range; with $1.60 as the floor and $1.82 as the ceiling (marked in the price chart below). In one of those rare disconnects from Bitcoin, Litecoin is trying to push its way....
Yes, you read that right! The next price target for Litecoin is $2.000; my previous PT (price target) of $3.000 for August has been met and surpassed, and I believe the cryptocurrency will witness severe pain in the coming sessions as well. As Bitcoin witnessed its Black Monday, it became increasingly clear that Litecoin will face the wrath of the bears. Litecoin is currently trading at $2.530, down a massive 24 percent and the decline may only accelerate going forward. Take a look at the latest daily LTC-USD technical considerations below. Litecoin Chart Structure - Litecoin has broken....
The gone-by weekend proved to be bearish for both Litecoin and Bitcoin. While Bitcoin suffered an approximately 2 percent decline, Litecoin too suffered a 1 percent loss. But the magnitude of the volatility in the latter overshadowed that in the former. Litecoin is presently trading at $3.943, down 0.93 percent since Friday. Things are still relatively good in Litecoin than in Bitcoin, and may become even better if Bitcoin sustains at the current level or rebounds quickly. Take a look at the latest technical considerations of the daily LTC-USD price chart below. Litecoin Chart Structure -....