Litecoin Price Technical Analysis for 22/4/2015 - Testing Resistance
Since last week, litecoin has developed a consolidation range roughly between 1.32 and 1.46. This week, price action has been quiet coiling around the 1.40 handle as we can see in the 1H chart. Litecoin (LTCUSD) 1H Chart April 22. Note that the 200-, 100-, and 50-hour SMAs all merged around 1.40. At the end of the April 22 session, ltcusd rallied with relatively higher volatility and volume. Meanwhile, the RSI has popped up above 60, which represents loss of the prevailing bearish momentum. The bounce off of the cluster of SMAs puts litecoin in a bullish outlook, first to test the 1.46....
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Litecoin is trading 0.31% or $0.014 down at $4.536 as selling pressure increases. While the price sustains above the support provided by $4.100, it may seem that a base may have been hit, but before establishing that we must take into consideration what the technical indicators are conveying. And I think they are pointing towards what was discussed in my previous analysis titled This May Turn Real Ugly! Litecoin Chart Structure - Litecoin has been repeatedly testing the support line but has failed at achieving a higher high on the rebound. The cryptocurrency is witnessing what is aptly....
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,....
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