Litecoin Price Analysis for 17/3/2015 - Stay Long
Litecoin is facing pressure just like Bitcoin and has been unable to cross the major resistance level of $2.08. However, as mentioned in yesterday's analysis, it has again respected the 20-day simple moving average of $2.019, boosting investors' morale. The “Long” recommendation is based on the technical analysis done on the 240-minute LTC/Dollar price chart. Here are some noteworthy observations: Price Structure - As can be seen from the chart, the price is floating well above the support level of $1.98 and has recently reaffirmed the 20-day SMA of $2.019 as a support. Sustaining above....
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Litecoin hasn’t seen such a low position since a long time ago. The cryptocurrency again reached the habitual level of $3. And we remember that fluctuations of Litecoin price around the level of $3 can stick for a long time. Now the market is pessimistic. Falls also on the LTC:BTC exchange rates, having again moved lower than 0.008. It seems that traders aren’t in a hurry to move to Litecoin while Bitcoin is facing problems. However, levels below $3 looks attractive to purchase, and a price of $2.80 - $2.90 is perfect to place buy orders, while sales are worth it at a level of $3.20.
Litecoin has broken out from the two-week trading range we discussed in the previous Litecoin price technical analysis titled Range Trading? as positivity from the Bitcoin market spills over. Litecoin is currently trading at $2.887. Though a breakout may seem as the best indication for the market participants to go long on Litecoin, my advice would be to wait for a close above $2.950 or buy on a dip. But, why do I say this? Read on the technical indications below to find out. I still find the technical indications fairly mixed and therefore, require stronger signals or a low-risk....
Since the last Litecoin price technical analysis Will This Support Hold?, Litecoin has gained $0.067 or 2.45 percent to trade at $2.800. The better part is that Litecoin is currently in a short-term technical pattern which will lead to a big swing in the price. Read on below the latest technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure - Upon a closer look at the price action of the past 6-7 sessions, it can be found that Litecoin has been trading in a small triangle. A triangle, which is a continuation pattern, in a downtrend implies that a bigger downmove....
The rocket has run out of fuel, and it's crashing! Yes, I am talking about Litecoin. The dream investment of many until Friday has turned into a nightmare today. And those who are still holding on to their Litecoin investments may witness more pain. The speculators with deep pockets look set to unravel more of their long positions and cause a steep decline in the price of the cryptocurrency. For those who were unable to track the market during the weekend, Litecoin crashed a biblical 58.26% from a high of $8.650 to a low of $3.610 in a matter of less than 48 hours. Litecoin pared the....
The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level. Litecoin is currently trading at $3.110. Technically, Litecoin remains on a very strong footing but it runs a major risk as well - the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity. Litecoin Chart Structure -....