Litecoin Price Technical Analysis for 25/5/2015 - Off from Peaks
The massive rally in Litecoin has absolutely crushed the bears and made the bulls tremendously richer in a very small period. Litecoin surged roughly 30% since my last analysis to hit a fresh 2-month high of $1.989. As the virtual currency threatened to take out a strong resistance zone, sellers made their comeback and pulled the price considerably down. Litecoin is currently trading at $1.840, off 7.5% from the peak value. The 240-minute LTC/USD price chart clearly tells us that the virtual currency is currently in a “no-trading” zone. Litecoin Chart Structure - In my previous analysis, I....
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The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level. Litecoin is currently trading at $3.110. Technically, Litecoin remains on a very strong footing but it runs a major risk as well - the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity. Litecoin Chart Structure -....
In my Friday's analysis post, Drops, But Still Near Highs!, I had mentioned that bulls were challenging a key resistance level of $1.865 and may eventually take the price higher to north of $2.000. But, they were overwhelmed by the strong selling pressure over the weekend and Litecoin's moments of glory came to an abrupt end! As bears hammered bulls, Litecoin lost 9.82% over the weekend to trade at $1.670. The 240-minute LTC/USD price chart reveals that the cryptocurrency is now considerably near the crucial support zone, below which we may witness a flash crash. Litecoin Chart Structure -....
Litecoin has dropped 6.47 percent to trade at $2.733 as the underlying negativity comes to the fore. We discussed in the previous Litecoin price technical analysis The Pressure is Evident that there is a very low probability of the price trending higher and that bears may make an early comeback. This decline has also brought the price closer to its very important technical support of the 200-day simple moving average (SMA). The question that the trading community is now asking is: will this level cushion Litecoin once again? I continue to remain bearish on Bitcoin as well, which I believe....
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....
In the previous Litecoin price technical analysis Flat Action, we discussed that if Litecoin fails to cross the resistance posed by the level of $3.160, it runs the risk of entering into a range. As can be seen, Litecoin has plummeted 4.44 percent to $2.907 as traders resorted to profit taking near the resistance. Another factor weighing on Litecoin is the weakness in the Bitcoin market. However, the good news is that Bitcoin is now close to its support level of $235. Values from the technical indicators overlaid on the daily LTC-USD price chart also suggest that there is an increased....