Litecoin Technical Analysis for 19/5/2015 - Decisive Breakdown
Litecoin has broken free from the hourly trading range on the downside, however, not before offering several highly lucrative trading opportunities to the market participants. I had mentioned in my previous analysis that Litecoin can be bought near $1.450 for a target of $1.459 by placing a stop-loss below $1.449. And there were plenty of such opportunities to trade in the past 24 hours. After cracking below the crucial support level, Litecoin is trading at $1.441. The latest collapse warrants a revision of the trading levels and the strategies. For this purpose, an analysis of the....
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Litecoin is currently down 1.38 percent at $2.781 as the Bitcoin market registers a breakdown. As mentioned in the previous Litecoin price technical analysis No Trading Zone, market participants have their eyes now set on $2.700, the level which had acted as a support in the past. And further weakness in the Bitcoin market may lead to a breakdown kind of situation in Litecoin as well. Here are the latest technical points from the daily LTC-USD price chart. Litecoin Chart Structure - As can be seen, Litecoin remains capped under the influence of the 30-day simple moving average, the current....
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,....
In yesterday's analysis entitled Bulls Rise, Challenge Resistances, I mentioned that Litecoin was challenging a key resistance level of $1.865. As of today, the cryptocurrency has failed to edge above this level and has come down to $1.852 as minor profit booking is witnessed. Below has been presented the technical considerations which traders must take into account before making fresh trades or deciding on existing ones. A 240-minute LTC/USD price chart has been used to serve the purpose. Litecoin Chart Structure - Since Litecoin is trading near the upper range of the band and refuses to....
Litecoin has crashed more than 16 percent intraday to hit a one-month low of $3.300 following the breakdown in the Bitcoin market. I have been mentioning in the past several analyses that the Bitcoin market is a great precursor to the action in the Litecoin market, and that any negative price action in Bitcoin will be reflected in Litecoin as well. Litecoin is currently trading at $3.432. The decline has also dashed all the hopes of a trend reversal and has boosted the downward momentum. Technical observations pertaining to the daily LTC-USD price chart have been presented below. Litecoin....
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....