Litecoin Price Technical Analysis 3/4/2015 - Bullish Spike
At the start of the April 2nd session, we noted that litecoin was showing some initial signs of reversal when it failed to reach down to the 1.60/1.61, March low. As we get started with the April 3rd session, we are seeing some initial signs of the anticipated bullish reversal, at least for the short-term. Litecoin (LTCUSD) 1H Chart April 3rd, 2015. In the 1H chart ,we can see that price spiked up during early part of the April 2nd session, pushing to 1.72 before stalling. This took ltcusd above the cluster of 200-, 100-, and 50-hour SMAs. We also saw the 1H RSI break above 60, showing....
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Last week, Litecoin price saw a spike down from around the 1.60 area down to parity (1.00), which is a new low on the year. The 1H chart shows that after the spike price essentially rebounded back to 1.60 but started drifting lower again. Litecoin (LTCUSD) 1H Chart April 13. Overall, the price action in litecoin has remained the same - bearish with low volatility. 1) The 200-, 100-, and 50-hour SMAs are sloping down and in bearish alignment, with price trading under all 3. 2) The RSI has held under 60 after tagging 30, reflecting maintenance of the bearish momentum. When there is a spike....
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....
In my previous analysis titled Short-sellers have been rewarded!, I had urged market participants to cover their short positions as Litecoin was oversold from a near-term perspective and hence short covering could be in the offing. As can be seen from the chart below, following my previous observation at $2.670, Litecoin jumped a massive 9.5% to hit a high of $2.924. Litecoin is currently trading up 7.97% at $2.883. Technical analysis of the 240-minute LTC-USD price chart confirms that Litecoin can be shorted now or up to a high of $2.950 by keeping a strict stop-loss above $2.980 (closing....
Litecoin price has jumped 3.35 percent to $3.980 after retesting the downward sloping support line. In the previous Litecoin price technical analysis Cautiously Optimistic, I had revised the support level to $3.720 and suggested that a weakening Bitcoin could add more pressure on the Litecoin bulls. As Bitcoin came down with a thud, Litecoin also tumbled to a low of $3.764 before gaining positive momentum. Short covering may have also helped the bulls' cause. Technically, Litecoin is still on a slippery slope but rising after retesting the support should give confidence to the buyers. Take....
Bears have stomped on all bullish expectations as the expected bullish double bottom gets transformed into a bearish Triple Top pattern. The sell-off can be partly attributed to the profit booking in the leading cryptocurrency, Bitcoin. Each Litecoin is currently worth $1.97 and the price may head lower from here on. Technical analysis implemented on the 240-minute LTC/USD price chart connotes that the value of each Litecoin may drop to $1.88. Bearish Triple Top Pattern Confirmed - Litecoin had been trading between $1.98-2.08 since March 10, registering 5 major price reversals. As the....