Litecoin Price Technical Analysis for 26/5/2015 - Resting Period
In the past 24 hours, Litecoin has traded on a very calm note; barely retesting the previous low of $1.755 and edging up only slightly higher to touch $1.876. The virtual currency seems to be taking a “resting break” after the monstrous run-up to 2-month highs. Litecoin has skid 2.12% from yesterday's observation to trade at $1.801. Technical analysis of the 240-minute BTC/USD price chart indicates that the current market condition offer no high-profit, low-risk trading opportunities. Litecoin Chart Structure - In my previous analysis, I had discussed that Litecoin was off from its recent....
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After registering a fresh 2015-top of $3.194, Litecoin can be seen consolidating below $3.000. However, with momentum and chart structure strongly supporting the buyers, Litecoin has edged up 3.33% to $2.945. Now that the key trigger for the financial markets world, i.e. the Fed meeting has been priced in, it would be interesting to see if Litecoin is able to continue its rally. Technical analysis of the 240-minute LTC-USD price chart suggests that the cryptocurrency is still a very risky trade and should be avoided for now. Litecoin Chart Structure - As can be seen from the chart above,....
Litecoin bulls have extended their resting period and wait for market triggers to prompt the next leg of this rally. In the past 24 hours, the virtual currency has traded in a very narrow band of $1.790-1.834 as bears fail to exert enough pressure to bother the comfortably placed bulls. Litecoin was last trading up 0.7% at $1.814. Technical analysis of the 240-minute Litecoin/Dollar chart reveals that the current price level is in close proximity to a support level, and any failure to hold that may result in a swift decline in the valuation. Litecoin Price Chart - In its present....
Litecoin has gone berserk after breaking out of the trading channel post a brief period of sideways consolidation. The price has jumped an earth shattering 59% since yesterday to hit a fresh 2015-high of $3.194. As the cryptocurrency loses some steam, the price has come down to $2.850. Litecoin's latest price action would have killed the bears, or at least made them broke. But now, even with the unprecedented rise in bullish strength, it isn't worth to buy Litecoin when it has attained stratospheric valuation. Technical analysis of the 240-minute LTC-USD price chart conveys that the....
Litecoin bulls have clawed their way back in as price leapfrogs from $1.98 to $2.06. There may be more good news in store for the investors as several technical indicators and a bullish price chart formation point to a surge in the Litecoin prices. But, for the investors' wealth to soar, Litecoin will have to cross one major hurdle: closing above $2.08. A comprehensive technical analysis on the Litecoin/Dollar 240-minute price chart taken from www.tradingview.com prominently favors the bulls. Price Structure - The price structure in the past one week has represented sideways consolidation;....
On the lines of Bitcoin, the muted price action in Litecoin has also completed its one week. The cryptocurrency, which until the first of this month was keeping the traders overly busy, has gone flat since. Litecoin is now trading at $3.736, marginally up from yesterday's $3.732. Technical observations of the daily LTC-USD price chart have been given below. Litecoin Chart Structure - It seems like Litecoin is trying to follow through with its downmove in a way similar to its upmove, when it spent a number of days at a certain level and finally broke past it. I know this may be hard to....