Litecoin Price Technical Analysis for 2/3/2015 - Bulls on Top!
Litecoin price continued rising yesterday and earlier today to record a high of $1.95 on Bitfinex today, as we predicted during yesterday's analysis. As the resistance level at the 62% Fibonacci retracement has been already been broken, litecoin price is likely to continue rising as the market's buying volume continues to increase. By studying the 4 hour Bitfinex (LTC/USD) chart from tradingview.com, keeping the Fibonacci retracement levels we plotted throughout yesterday's analysis and plotting the William's Alligator indicator accordingly (look at the below chart), we can conclude the....
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Litecoin price has jumped 3.35 percent to $3.980 after retesting the downward sloping support line. In the previous Litecoin price technical analysis Cautiously Optimistic, I had revised the support level to $3.720 and suggested that a weakening Bitcoin could add more pressure on the Litecoin bulls. As Bitcoin came down with a thud, Litecoin also tumbled to a low of $3.764 before gaining positive momentum. Short covering may have also helped the bulls' cause. Technically, Litecoin is still on a slippery slope but rising after retesting the support should give confidence to the buyers. Take....
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 bulls have extended their resting period and wait for market triggers to prompt the next leg of this rally. In the past 24 hours, the virtual currency has traded in a very narrow band of $1.790-1.834 as bears fail to exert enough pressure to bother the comfortably placed bulls. Litecoin was last trading up 0.7% at $1.814. Technical analysis of the 240-minute Litecoin/Dollar chart reveals that the current price level is in close proximity to a support level, and any failure to hold that may result in a swift decline in the valuation. Litecoin Price Chart - In its present....
Bullish bias is still evident in Litecoin even as the cryptocurrency fell sharply from 2.14 to 1.98. As discussed in yesterday's analysis, the recent correction in Litecoin presents to us an incredible opportunity to buy as the price structure strongly favors the bulls. Each Litecoin is currently trading at $2.05. A precise technical analysis on the 240-minute LTC/USD price chart indicates that the digital currency may have bottomed out and head higher to take out the 2015-peak eventually. Technically, Litecoin seems to be enjoying a positive undertone. Price chart and technical indicators....