Litecoin Price Technical Analysis for 11/3/15: Corrections and Rebounds
The Litecoin price has dropped around 0.5% against the USD in over the last 24 hours. After the surprising bullish rally in Bitcoin charts, the Litecoin as usually tailed the upsurge and eventually established new higher highs, one crossing above the presumed resistance level near 2.00. However, the market soon faced a little downside pressure as traders exited their positions for short-term profits. Nevertheless, the overall bullish bias continued to exist. As you can clearly see in the 4H BTC-e chart above, the Litecoin price is clearly way too above the 50-H MA, while the RSI is at 65 -....
Related News
The gone-by weekend proved to be bearish for both Litecoin and Bitcoin. While Bitcoin suffered an approximately 2 percent decline, Litecoin too suffered a 1 percent loss. But the magnitude of the volatility in the latter overshadowed that in the former. Litecoin is presently trading at $3.943, down 0.93 percent since Friday. Things are still relatively good in Litecoin than in Bitcoin, and may become even better if Bitcoin sustains at the current level or rebounds quickly. Take a look at the latest technical considerations of the daily LTC-USD price chart below. Litecoin Chart Structure -....
As was expressed in Danger Looms, Litecoin witnessed a strong selloff intraday, crashing by a little more than 20%. I expected the cryptocurrency to hit $3.100 but the price reversed from $3.180. Yesterday marked the fourth straight day of losses for Litecoin. Currently, Litecoin is trading with a deep cut of 6.33% since yesterday's observation. From a technical perspective, it looks like Litecoin will continue to devalue against the US dollar and hence, rebounds should be used to go short in the counter. Litecoin Chart Structure - After breaching the crucial support of $4.100, the....
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....
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 falls 1.47 percent to $3.075 after kissing the resistance at $3.130. In the previous Litecoin price technical analysis, we said that Litecoin could leapfrog to higher levels on consistent support from the buyers, but what we have got instead is a bout of profit booking which once pulled down the price to an intraday low of $3.050. But can this decline prove fatal to Litecoin? Will the crucial support of $3.000 be breached? Let us try to find that out by conducting a technical analysis on the daily LTC-USD price chart. Litecoin Chart Structure - As can be seen, the higher top,....