Litecoin Price Technical Analysis for 27/3/2015 - Frittering Momentum
Litecoin hasn't really moved in the past 24 hours with the price oscillating between $1.69 and $1.73. But this was always a possibility after the cryptocurrency was hit by a bout of extreme volatility. For each Litecoin, you will now have to shell out $1.69. After technically analyzing the 240-minute LTC/USD price chart, it can be safely said that the cryptocurrency will respect the new range for quite some time. Hence, traders may benefit immensely from range trading following the analysis presented below. Moving Average - The price chart above clearly reveals that the 20-4h moving....
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Bullish bias is still evident in Litecoin even as the cryptocurrency fell sharply from 2.14 to 1.98. As discussed in yesterday's analysis, the recent correction in Litecoin presents to us an incredible opportunity to buy as the price structure strongly favors the bulls. Each Litecoin is currently trading at $2.05. A precise technical analysis on the 240-minute LTC/USD price chart indicates that the digital currency may have bottomed out and head higher to take out the 2015-peak eventually. Technically, Litecoin seems to be enjoying a positive undertone. Price chart and technical indicators....
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 rebound in Bitcoin is supporting Litecoin as well. After slumping to a new monthly low, Litecoin is extending its gains to $3.534, up 1.29 percent. I think that a further rise in Litecoin will be a good opportunity to go short. Take a look at the technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure. If we take a look at the chart above, it can be safely said that Litecoin is in a strong downtrend. With Bitcoin still weak, it is proving hard for Litecoin to unshackle from this range. The resistance according to the above trend comes in at around $3.850.....
Litecoin extends its rally to hit a high of $3.140 as the cryptocurrency aims to soar past the immediate overhead resistance at $3.130. Currently at $3.121, Litecoin is in a strong bullish grip and may leapfrog to higher levels on consistent support from buyers. Rising Bitcoin market is also aiding the Litecoin market. Although the risks cited in the previous Litecoin price analysis Closing In have been averted for now, we can never be too cautious for a volatile cryptocurrency like this one. Therefore, let us see what the technical indicators have to say about the latest price advance.....
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....