Litecoin Price Technical Analysis for 22/7/2015 - Gains Erased
Litecoin has erased the recent gains of more than 6% with a sharp decline in excess of 5%. As mentioned in my previous analysis Sideways Action, traders utilized the rise to create bearish trades on Litecoin which has seen the price drop down to $3.676. While the price looks to consolidate, I think we may see a good downward action by the end of this week. Why do I think so? Read on below to know the technical considerations which compel me to arrive at this conclusion. Litecoin Chart Structure - The daily LTC-USD price chart above clearly implies that the marked resistance is proving to....
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In my previous analysis Gains Erased, I had laid down a few technical considerations which forced me to think that another round of selling is in the offing for Litecoin. Today, I am going to bring to your attention another big divergence which may eventually prove to be damaging to the cryptocurrency. But before that, here is an update on the price: Litecoin is currently trading up $0.056 or 1.52% at $3.732. Presented below are the technical observations of the daily LTC-USD price chart. Litecoin Chart Structure - Similar to Bitcoin, Litecoin has completed six straight days of no....
The gone-by weekend proved to be bearish for both Litecoin and Bitcoin. While Bitcoin suffered an approximately 2 percent decline, Litecoin too suffered a 1 percent loss. But the magnitude of the volatility in the latter overshadowed that in the former. Litecoin is presently trading at $3.943, down 0.93 percent since Friday. Things are still relatively good in Litecoin than in Bitcoin, and may become even better if Bitcoin sustains at the current level or rebounds quickly. Take a look at the latest technical considerations of the daily LTC-USD price chart below. Litecoin Chart Structure -....
How times change! Just yesterday, I wrote an analysis Bears Have Been Smoked! and today, I am going to write about Litecoin's frightening collapse from its 8-month high. Backed by strong momentum and positive mood, Litecoin jumped to $4.670, a level not seen since October 2014. But as the market got overheated, traders realized the need to lock in profits which led to a swift slide from the peak to a hit a low of $3.864. Having erased a significant percentage of gains, Litecoin is trading up just 1.42% at $3.926. The technical considerations derived from the 240-minute LTC-USD price chart....
Continuing on its way up, Litecoin fell from resistance to support, in a fashion similar to Bitcoin. In my previous analysis titled, At June's High, it was discussed that Litecoin could accumulate more gains as the bulls looked confident of tightening the noose on the bears. Litecoin did rise up to $1.840 but has erased the gains and approached the support level, providing yet another opportunity for the buyers. Litecoin is currently trading just marginally up from yesterday's $1.797 to present $1.801. Technically, things look highly comforting for the buyers but they must not weaken their....
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....