Litecoin Price Technical Analysis for 20/4/2015 - Resistance Holds
After making a low at 1.32 last week, litecoin has been in consolidation. The 1H chart shows the narrow consolidation range between 1.32 and 1.46. Litecoin (LTCUSD) 1H Chart April 20. Here are some observations from the 1H chart:1) The market has been relatively quiet over the weekend, but after price met with the 200-hour simple moving average (SMA), there was a bearish reaction. This shows that bears are in control. 2) The RSI shows a market in consolidation. It is now heading to 30, which could be a sign that the market is reviving the bearish momentum. If the RSI tags 30, and holds....
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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,....
Litecoin fell more than 5 percent over the weekend as weakness returned to haunt the cryptocurrency markets. The Bitcoin market is also struggling to cope with the selling pressure and has returned to its crucial support of $220. Litecoin is currently trading at $3.330 and is well within its medium term trading range. In the previous Litecoin price technical analysis Sell on Rallies, we discussed how Litecoin remains weak and any rise in the valuation can be used to go short. That holds valid for even today. The latest technical indicators are nowhere positive or indicate that a reversal....
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....
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....
Litecoin's steady advance has brought the price up to the highest level of June i.e. at $1.800, and it may go even higher as bulls tighten the noose on the bears. In my previous analysis titled, Buy, But Don't Forget This!, I mentioned that Litecoin is a buy on dips candidate; that statement holds for today as well! Litecoin is currently trading up 2.10% at $1.797. Litecoin's chart structure is strongly bullish, however, the technical indicators reflect a mixed outlook. A 240-minute LTC-USD price chart has been analyzed here. Litecoin Chart Structure - Litecoin's higher top, higher bottom....