Litecoin Price Technical Analysis for 4/8/2015 - Dead Cat Bounce
Litecoin rises more than 5 percent tracking the relief rally in Bitcoin. However, the cryptocurrency is expected to face renewed bearish momentum near $4.500. In my previous Litecoin technical analysis, I mentioned that Litecoin is in the strong grip of the bears. I maintain my bearish view on the cryptocurrency and see significant price advances being sold into. Technically, things look bearish for Litecoin and we should see $3.000 this month. Litecoin Chart Structure - There hasn't been a meaningful change in the chart structure, which is that of a lower top, lower bottom. Fibonacci....
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Litecoin has posted muted gains of 1.12%, in line with Bitcoin. It is currently trading at $4.318. In my previous technical analysis titled Dead Cat Bounce, I mentioned that Litecoin should face resistance near $4.500. The cryptocurrency did reach $4.440 before retreating. Apart from this, the technical indications are highly mixed. Litecoin Chart Structure - There is no significant price action that has taken place in Litecoin. It is broadly a lower top, lower bottom structure, and there is a good probability that it stays that way. Fibonacci Retracements - The 23.6% Fibonacci retracement....
Litecoin is currently trading up 1.66 percent at $3.489 as the Bitcoin market looks to settle near the crucial support of $220. However, this is not the complete story. As bears went berserk, Litecoin dived to a fresh 1-month low of $3.160, much closer to my monthly target of $3.000, before bouncing back. The volume registered on the decline was far greater than on the rebound. But, will this rebound sustain? Let us find out what the latest technical indications are. Litecoin Chart Structure - While the dead-cat bounce may extend further, I see it facing renewed selling pressure near the....
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....