Litecoin Price Decouples from Bitcoin, Slump Continues
Litecoin is experiencing its biggest price slump ever. When the altcoin went mainstream, litecoin closely followed bitcoin's sometimes extreme price swings, peaking at $40 in late 2013, soon after bitcoin passed the $1,000 mark. However, in less than two months, litecoin has lost that close relationship with its golden sibling, prompting community members and some industry leaders to question litecoin's viability. Barry Silbert, Founder and CEO of SecondMarket, recently posted the following tweet raising the issue: Litecoin price appears to be decoupling from bitcoin. Money rotating out of....
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In yesterday's Litecoin analysis titled, Pressure Mounts, I discussed the possibility of the altcoin heading lower and recommended shorting. In the last 24 hours, bulls have been decimated as the value dived from $1.97 to a six-week low of $1.60. However, the price recovered to $1.71 as sellers booked partial profits. The crash in Litecoin price came in conjunction with an absolute slump in the Bitcoin price from $280 to $250. Bitcoin has routinely had a prominent effect on other cryptocurrencies. Technical analysis on the 240-minute LTC/USD indicates that the sentiment has turned strongly....
Bitcoin price remains nearly 10% below recent highs, as the major cryptocurrency continues its slump after early last week’s sell off. Since hitting a new all-time high of $61k, BTC has continued to face downward pressure, hovering around the $54,000 price level. The past week’s volatility has resulted in bulls losing nearly $2.6 billion in liquidations, according to ByBt. Understanding Bitcoin’s Recent Price Action There were two major catalysts that led to last week’s sizable […]
Litecoin has crashed more than 16 percent intraday to hit a one-month low of $3.300 following the breakdown in the Bitcoin market. I have been mentioning in the past several analyses that the Bitcoin market is a great precursor to the action in the Litecoin market, and that any negative price action in Bitcoin will be reflected in Litecoin as well. Litecoin is currently trading at $3.432. The decline has also dashed all the hopes of a trend reversal and has boosted the downward momentum. Technical observations pertaining to the daily LTC-USD price chart have been presented below. Litecoin....
The party continues in Litecoin markets as the price rose another 2.66% or $0.13 to $4.978. With successive gains, Litecoin is fast approaching its previous top of $5.237. The technical indicators reflect no weakness as of now. Litecoin may have some more steam left in it, and hence, dips can be used to buy the cryptocurrency. Read on to find the latest technical factors below. Litecoin Chart Structure - In yesterday's rally, Litecoin jumped to $5.080 before easing slightly. Another factor weighing on Litecoin is the stalling of Bitcoin. I had earlier mentioned that the rise in Litecoin is....
Litecoin continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....