Litecoin Price Technical Analysis for 17/8/2015 - Low on loss, High on Volatility
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 -....
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In my previous analysis titled Short-sellers have been rewarded!, I had urged market participants to cover their short positions as Litecoin was oversold from a near-term perspective and hence short covering could be in the offing. As can be seen from the chart below, following my previous observation at $2.670, Litecoin jumped a massive 9.5% to hit a high of $2.924. Litecoin is currently trading up 7.97% at $2.883. Technical analysis of the 240-minute LTC-USD price chart confirms that Litecoin can be shorted now or up to a high of $2.950 by keeping a strict stop-loss above $2.980 (closing....
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....
Since last week, litecoin has developed a consolidation range roughly between 1.32 and 1.46. This week, price action has been quiet coiling around the 1.40 handle as we can see in the 1H chart. Litecoin (LTCUSD) 1H Chart April 22. Note that the 200-, 100-, and 50-hour SMAs all merged around 1.40. At the end of the April 22 session, ltcusd rallied with relatively higher volatility and volume. Meanwhile, the RSI has popped up above 60, which represents loss of the prevailing bearish momentum. The bounce off of the cluster of SMAs puts litecoin in a bullish outlook, first to test the 1.46....
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,....
Litecoin posted an exceptional rise from yesterday's $1.441 to an intraday high of $1.475 before bulls stopped to recharge their batteries. With this surge, Litecoin also breached the trading range on the upside before profit booking dragged the price back into the range. Litecoin is currently trading up 0.7% at $1.451. Litecoin's recent high volatility price action prompts us to revise the trading levels. Presented below are the technical observations from a 120-minute LTC/USD price chart. Litecoin Chart Structure - Backed by strong bullish mood, Litecoin surged above the crucial....