Litecoin Price Technical Analysis for 19/6/2015 - Defying Gravity!
Even as valuation gets richer and technical indicators sound a warning, Litecoin continues to defy gravity as it closed yesterday at the highest level of the year - $3.063. Speculative buying has lifted the price even higher today, to $3.085. However, the rally is not an opportunity to enter into the highly overbought, technically weak cryptocurrency. Technical considerations derived from the 240-minute LTC-USD price chart have been given below. Litecoin Chart Structure - After hitting the yearly high of $3.194, Litecoin consolidated for a brief period. With yesterday's closing, bulls have....
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Litecoin has posted surreal gains following the Greek referendum, soaring from our last observation of $4.100 to hit a new 9-month high of $5.000 before partial profit booking dragged the price down. Litecoin is currently trading up 16.71% at $4.785 since my last observation, vastly outperforming Bitcoin. It seems that Litecoin has decided to continue to defy gravity even when it is grossly overbought. Technical analysis of the 240-minute LTC-USD price chart confirms that the cryptocurrency does not deserve your dollar at the current level. Litecoin Chart Structure - The above chart....
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....
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,....