Litecoin Technical Analysis for 9/3/2015 - Boring Sideways
Litecoin continues to disappoint investors as bulls fail to march ahead in the absence of positive triggers. The Litecoin price has consistently struggled to break above the $2-mark and there are no visible or underlying indications which point toward better trading sessions for the cryptocurrency. Each Litecoin is currently worth $1.92. The 240-minute LTC/USD price chart above represents an uninspiring outlook for the Litecoin bulls. The value of each Litecoin has been swinging between $1.80 on the lower end and $2 on the upper end. The Bollinger band, with values of $1.89 and $1.93, is....
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Litecoin has soared more than 6% since yesterday to $3.909 on account of short covering as the cryptocurrency enters into consolidation mode. The rise has brought the price closer to the resistance level of $4.100. I had mentioned in my previous analysis No Relief Seen! that the market participants should not confuse the ongoing sideways action with a base formation. It must be noted that only above the resistance line will a base be confirmed, but until then, chances are that it remains in a lower top, lower bottom structure. Technical analysis of the daily LTC-USD price chart tells that....
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....
After registering a fresh 2015-top of $3.194, Litecoin can be seen consolidating below $3.000. However, with momentum and chart structure strongly supporting the buyers, Litecoin has edged up 3.33% to $2.945. Now that the key trigger for the financial markets world, i.e. the Fed meeting has been priced in, it would be interesting to see if Litecoin is able to continue its rally. Technical analysis of the 240-minute LTC-USD price chart suggests that the cryptocurrency is still a very risky trade and should be avoided for now. Litecoin Chart Structure - As can be seen from the chart above,....
Litecoin continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....
After having stopped for breath, bulls have steamrolled the bears and Litecoin surged 5.6% to hit the highest level in a week. With this rise, Litecoin has also broken away from a medium-term trading range and looks well poised to accumulate hefty gains going ahead. Owing to the strong advance, Litecoin has become expensive to $1.532. Technical analysis of the 240-minute LTC/USD price chart indicates that even after the massive surge, there is still steam left in Litecoin and it may eventually touch $1.600. Litecoin Chart Structure - Litecoin has staged a positive breakout after having....