Litecoin Price Technical Analysis for 6/3/15: Waiting to Bounce Back
The Litecoin price in the USD markets dropped 1% in over the last 24 hours, while tailing Bitcoin to its bearish correction sentiment. A part of this downtrend could be blamed on the fundamentals surrounding the routinely happening Silk Road Bitcoin auctions. The Bitcoin's value has always retreated little-to-medium once the auction is done. The Litecoin price, as usual, has followed its locomotive's sense of direction. By looking at the 4H OKCOIN chart above, we can see Litecoin price almost going below the 50-H MA (the black curve). There it is also very close to entering the oversold....
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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....
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 posted an exceptional rise from yesterday's $1.441 to an intraday high of $1.475 before bulls stopped to recharge their batteries. With this surge, Litecoin also breached the trading range on the upside before profit booking dragged the price back into the range. Litecoin is currently trading up 0.7% at $1.451. Litecoin's recent high volatility price action prompts us to revise the trading levels. Presented below are the technical observations from a 120-minute LTC/USD price chart. Litecoin Chart Structure - Backed by strong bullish mood, Litecoin surged above the crucial....
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....
Litecoin has posted muted gains of 1.12%, in line with Bitcoin. It is currently trading at $4.318. In my previous technical analysis titled Dead Cat Bounce, I mentioned that Litecoin should face resistance near $4.500. The cryptocurrency did reach $4.440 before retreating. Apart from this, the technical indications are highly mixed. Litecoin Chart Structure - There is no significant price action that has taken place in Litecoin. It is broadly a lower top, lower bottom structure, and there is a good probability that it stays that way. Fibonacci Retracements - The 23.6% Fibonacci retracement....