Litecoin Price Technical Analysis for 10/7/2015 - 31% Leap in 1 day
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....
Related News
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....
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....
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....
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 is trading 0.31% or $0.014 down at $4.536 as selling pressure increases. While the price sustains above the support provided by $4.100, it may seem that a base may have been hit, but before establishing that we must take into consideration what the technical indicators are conveying. And I think they are pointing towards what was discussed in my previous analysis titled This May Turn Real Ugly! Litecoin Chart Structure - Litecoin has been repeatedly testing the support line but has failed at achieving a higher high on the rebound. The cryptocurrency is witnessing what is aptly....