Litecoin Price Technical Analysis for 17/4/2015 - Correction Begins
Litecoin has been consolidating since finding support at 1.32 This consolidation follows a 3-point divergence between price and the RSI. Then, after a failed bearish attempt to test 1.32, price rallied again and rallied up to 1.46 before finding resistance. Litecoin (LTCUSD) 1H Chart April 17. In the 1H chart, we can see that there was resistance around 1.45-1.46, which was a common support from a previous consolidation. As price falls, we should watch what happens around 1.37. If ltcusd breaks below 1.37, it would break below the 100-, and 50-hour simple moving averages (SMAs) and this....
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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....
Litecoin has jumped more than 10 percent over the weekend as Bitcoin broke past a crucial resistance level. Now trading at $2.950, Litecoin hit a high of $3.066 before easing a bit. So, will Litecoin head even higher or is this when the rebound fails? Well, it is very hard to say that right now but a clearer picture can definitely be obtained by using some technical indicators and taking cues from the expected Bitcoin price action. Litecoin Chart Structure - The Resistance can be obtained by connecting the tops of Litecoin for the month of August and it is near $3.400. This is also the....
It seems that the big negatives I mentioned in my previous analysis are coming into play, and well. Since yesterday, Litecoin has crashed in excess of 12% and is now trading at $3.980. If Litecoin fails to recover these losses and closes today's session below the strong support of $4.100, we may see a huge decline of 25% in the coming sessions. And I strongly believe that we will see lower levels. Let's take a look at the technical analysis of the daily LTC-USD price chart above. Litecoin Chart Structure - Litecoin had been consolidating above the support level for a considerable time,....
Yes, that is the advice I have for market participants involved in Litecoin trading. Litecoin is currently at a juncture where if it begins its upward climb, it can give high returns; but if it falls, then there is a roughly 25 percent downside. Remember my September price target - $2.000? Trading at $2.790, Litecoin is trying to limit its losses, however, it cannot help much since the Bitcoin markets are under tremendous pressure. Bitcoin is now at $230, but if it closes below $220 on a weekly basis, then a major collapse will ensue which will adversely affect Litecoin as well. Below are....
Litecoin bears have been smoked by the massive 27% rally in the past 24 hours following a high volume breakout from the range I discussed in my previous analysis, New Range. The surreal rise in Litecoin price has also pushed it to the highest level of 2015. Litecoin is currently trading at $3.871, a strong advance from yesterday's $3.047. Litecoin's jump to a fresh 2015-high closely follows Bitcoin's leap to a new June high, as the Greece crisis comes to its D-day. A technical look at the 240-minute LTC-USD price chart above tells that Litecoin has entered the "no-buy" zone due to its....