Litecoin Price Technical Analysis for 4/3/15: Will Uptrend Continue?
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....
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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 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....
Litecoin Price Key Highlights. Litecoin price has been gradually trending higher against the U. S. dollar, mostly due to the latter's selloff in recent trading sessions. Price is currently testing the bottom of the ascending channel visible on its short-term time frame and might be due for a bounce. Litecoin price is on a steady uptrend these days and could be in for a much stronger bounce, as it is testing the rising channel support. Bullish divergence forming. Litecoin price has been forming higher lows while technical indicators drew lower lows, creating bullish divergence for both RSI....
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....
In my previous analysis Gains Erased, I had laid down a few technical considerations which forced me to think that another round of selling is in the offing for Litecoin. Today, I am going to bring to your attention another big divergence which may eventually prove to be damaging to the cryptocurrency. But before that, here is an update on the price: Litecoin is currently trading up $0.056 or 1.52% at $3.732. Presented below are the technical observations of the daily LTC-USD price chart. Litecoin Chart Structure - Similar to Bitcoin, Litecoin has completed six straight days of no....