Litecoin Price Technical Analysis for 30/7/2015 - Heads South
Litecoin falls more than 8% to $4.569 as weakness in Bitcoin increases. I had been maintaining that the rise in Litecoin was mainly on account of a strengthening Bitcoin, and Bitcoin's failure to cross the resistance may lead to a decline in Litecoin as well. With this decline, Litecoin has provided a short-term buy opportunity at low risk. Read on below to find out how. Litecoin Chart Structure - Litecoin's recent consolidation occurred at around $4.560-4.570 and the current valuation makes it a low-risk buying opportunity. Fibonacci Retracement - As Litecoin heads south, it is expected....
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As expressed in Heads South, Litecoin has bounced off from near the support level of $4.360. It was earlier advised that the latest correction is a low-risk buying opportunity. Litecoin is presently trading up 1.77% at $4.650. Market participants must also note that a bigger decline may be in store for Bitcoin, which is apparently leading Litecoin. Interestingly, none of the technical indicators overlaid on the daily LTC-USD price chart point to bearish connotations for Litecoin. All remain firmly positive or stable. Litecoin Chart Structure - In yesterday's session, Litecoin continued its....
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,....