Litecoin Price Technical Analysis for 22/2/2015 - New Uptrend
Litecoin price increased a bit during yesterday's trading sessions to record a high of $1.86 and a low of $1.83. It seems that the price will continue to rise; especially that bitcoin price is rising as well. By studying the 1 hour Bitfinex (LTC/USD) charts from tradingview.com and plotting the 20 hour EMA accordingly (look at the below chat), we can conclude the following: We can now spot a new uptrend line that has started on the 18th of February as shown by the two green trend lines on the below chart. Litecoin price is pushing upwards slowly and the support level has also been rising....
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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 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....
Litecoin is trading 0.31% or $0.014 down at $4.536 as selling pressure increases. While the price sustains above the support provided by $4.100, it may seem that a base may have been hit, but before establishing that we must take into consideration what the technical indicators are conveying. And I think they are pointing towards what was discussed in my previous analysis titled This May Turn Real Ugly! Litecoin Chart Structure - Litecoin has been repeatedly testing the support line but has failed at achieving a higher high on the rebound. The cryptocurrency is witnessing what is aptly....