Litecoin Weekly Analysis - Gains To Follow?
Key Highlights. Litecoin ended the week lower, but found support around an important area of 1.43. A crucial bullish trend line on the 4-hours chart is likely to provide support to LTCUSD. There is a monster bullish trend line formed on the 4H chart of Litecoin, which recently acted as a barrier for sellers and pushed back prices higher. LTCUSD breached the 100 simple moving average (SMA) - 4H to trade above an important resistance around 1.47. However, it struggled at a critical pivot area of 1.50 and fell sharply after testing the mentioned resistance area. The downside stalled at the....
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If there was a competition right now between our beloved hero Superman and the cryptocurrency Litecoin, I think even our iconic hero would say for once “Okay, let's catch a break!” Litecoin is breaking all the fathomable boundaries, having jumped from $2 to more than $8 in just the past 4 weeks. And with momentum and trend remaining overtly bullish, there is no saying what valuations we will see going ahead. Litecoin has jumped a massive, a phenomenal 31% in the past 24 hours to leapfrog to $8.100. In today's analysis, we are taking a departure from the normal routine in a way that a....
Litecoin is trading on a flat-to-negative basis at $3.042 after amassing hefty gains in the previous sessions. The cryptocurrency has hit a roadblock near the earlier lows and is facing resistance from them. Taking a look at the daily LTC-USD price chart below, it can be said that if Litecoin fails to head above this resistance soon, then it runs the risk of being trapped in another range. Litecoin Chart Structure - Upon a closer look at the above chart, market participants will find that the previous lows marked as 1 and 2 are limiting the gains for Litecoin now. The Support for Litecoin....
Pursuant to my earlier analysis titled Roadblocks Ahead, Litecoin continues to face pressure near the marked resistance level. After collapsing to a six-week low of $1.60, the cryptocurrency has managed to recover some lost ground, and is currently trading at $1.80. With this, Litecoin has managed to just edge above the Resistance Line 1, which represents a value of $1.79. The technical indicators overlaid on the 240-minute LTC/USD price chart signify that some more gains can follow the rebound. Momentum - It was earlier mentioned that the Momentum indicator was maintaining a downward....
Litecoin has jumped another 12% since yesterday, adding to its surreal gains and decimating the bears. In my previous analysis, I had recommended shorting the cryptocurrency near $5.300 by placing a stop-loss above $5.500 and Litecoin has proved me wrong. Litecoin is currently trading up 12.41% at $5.379. Technically, Litecoin looks formidable even at these outrageous levels. The 240-minute LTC-USD price chart indicates strong bullish force behind the rise and it has become incredibly difficult for me to comment as to when the profit booking will come in or when the market would realize....
Litecoin (LTC) has continued to range in a channel against Tether (USDT) as it attempts to break out of this trend. The price of Litecoin LTC has shown little to no major movement despite the change in trend across the market in recent weeks as many altcoins rallied and produced gains of double digits. (Data from Binance) Related Reading: When Will Bitcoin Become An Inflation Hedge? Scaramucci Explains Litecoin (LTC) Price Analysis On The Weekly Chart From the chart, the price of LTC saw a weekly low of $45, which bounced from that area and rallied to a price of $56; considering its....