Litecoin Price Technical Analysis for 20/2/2015 - Pending Uptrend
Litecoin price resumed its journey towards the north yesterday to score a high of $1.85. The uptrend continued to control today's market and litecoin price is trading at $1.86 at the time of writing of this article. By studying the 1 hour Bitfinex (LTC/USD) charts from tradingview.com and calculating the 20 hour EMA (look at the below chart), we can better understand the market's trading pattern. On the 19th of January, the bullish rally was rather strong leading to 4 successive bullish candlesticks on the 1 hour charts. Also, we can recognize "bullish gapping" i.e. the price opens at a....
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The Litecoin price continued to tail Bitcoin in its time of uptrend, and retested new higher highs - near 1.98 - during the 3/3 trading session. In later hours, the price went through a routine correction, and got dumped to as low as 1.92. This was the same time Bitcoin attempted a readjustment and fell to 276 from the intraday high 294. And now as the locomotive attempts yet another bounce back, its bogie Litecoin is doing something similar in the USD markets. As you can see the technical indicators in the 4H OKCOIN chart above, the Litecoin price is comfortably trending in a bullish....
Litecoin Price Key Highlights. Litecoin price is still sitting at the bottom of the rising wedge but could be in for a pickup in bullish pressure soon. Support at the 200 SMA has kept losses in check and might continue to do so. Litecoin price might be aiming for the top of the wedge near the 3.400 mark, pending a pickup in upside momentum. Next Barrier at 100 SMA. The 100 SMA appears to be holding as resistance for the time being, although it is still above the longer-term 200 SMA so the uptrend could stay intact. In addition, litecoin price is also stalling around a former short-term....
Litecoin has dropped 6.47 percent to trade at $2.733 as the underlying negativity comes to the fore. We discussed in the previous Litecoin price technical analysis The Pressure is Evident that there is a very low probability of the price trending higher and that bears may make an early comeback. This decline has also brought the price closer to its very important technical support of the 200-day simple moving average (SMA). The question that the trading community is now asking is: will this level cushion Litecoin once again? I continue to remain bearish on Bitcoin as well, which I believe....
Litecoin bears have been smoked by the massive 27% rally in the past 24 hours following a high volume breakout from the range I discussed in my previous analysis, New Range. The surreal rise in Litecoin price has also pushed it to the highest level of 2015. Litecoin is currently trading at $3.871, a strong advance from yesterday's $3.047. Litecoin's jump to a fresh 2015-high closely follows Bitcoin's leap to a new June high, as the Greece crisis comes to its D-day. A technical look at the 240-minute LTC-USD price chart above tells that Litecoin has entered the "no-buy" zone due to its....
In the previous Litecoin price technical analysis Flat Action, we discussed that if Litecoin fails to cross the resistance posed by the level of $3.160, it runs the risk of entering into a range. As can be seen, Litecoin has plummeted 4.44 percent to $2.907 as traders resorted to profit taking near the resistance. Another factor weighing on Litecoin is the weakness in the Bitcoin market. However, the good news is that Bitcoin is now close to its support level of $235. Values from the technical indicators overlaid on the daily LTC-USD price chart also suggest that there is an increased....