Litecoin Price Technical Analysis for 19/8/2015 - Pure Mayhem
Litecoin has crashed more than 16 percent intraday to hit a one-month low of $3.300 following the breakdown in the Bitcoin market. I have been mentioning in the past several analyses that the Bitcoin market is a great precursor to the action in the Litecoin market, and that any negative price action in Bitcoin will be reflected in Litecoin as well. Litecoin is currently trading at $3.432. The decline has also dashed all the hopes of a trend reversal and has boosted the downward momentum. Technical observations pertaining to the daily LTC-USD price chart have been presented below. Litecoin....
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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,....
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....