Litecoin Price Technical Analysis for 9/9/2015 - Flat Action
Litecoin is trading on a flat-to-negative basis at $3.042 after amassing hefty gains in the previous sessions. The cryptocurrency has hit a roadblock near the earlier lows and is facing resistance from them. Taking a look at the daily LTC-USD price chart below, it can be said that if Litecoin fails to head above this resistance soon, then it runs the risk of being trapped in another range. Litecoin Chart Structure - Upon a closer look at the above chart, market participants will find that the previous lows marked as 1 and 2 are limiting the gains for Litecoin now. The Support for Litecoin....
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On the lines of Bitcoin, the muted price action in Litecoin has also completed its one week. The cryptocurrency, which until the first of this month was keeping the traders overly busy, has gone flat since. Litecoin is now trading at $3.736, marginally up from yesterday's $3.732. Technical observations of the daily LTC-USD price chart have been given below. Litecoin Chart Structure - It seems like Litecoin is trying to follow through with its downmove in a way similar to its upmove, when it spent a number of days at a certain level and finally broke past it. I know this may be hard to....
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....
The action in Litecoin market in the past 24 hours has been muted. The cryptocurrency has failed to move even intraday and is now trading on a flat note at $2.979. There are two factors suppressing the movement in Litecoin: Overhead Technical Resistances. Lackluster Bitcoin Market. Both of these overhangs should be dealt with quickly if Litecoin is to maintain its positive stance. According to the latest LTC-USD price technical considerations, Litecoin needs only a little upward thrust to secure more gains. Litecoin Chart Structure - The chart structure remains positive until this moment.....
Litecoin has soared more than 6% since yesterday to $3.909 on account of short covering as the cryptocurrency enters into consolidation mode. The rise has brought the price closer to the resistance level of $4.100. I had mentioned in my previous analysis No Relief Seen! that the market participants should not confuse the ongoing sideways action with a base formation. It must be noted that only above the resistance line will a base be confirmed, but until then, chances are that it remains in a lower top, lower bottom structure. Technical analysis of the daily LTC-USD price chart tells that....
Litecoin has gone berserk after breaking out of the trading channel post a brief period of sideways consolidation. The price has jumped an earth shattering 59% since yesterday to hit a fresh 2015-high of $3.194. As the cryptocurrency loses some steam, the price has come down to $2.850. Litecoin's latest price action would have killed the bears, or at least made them broke. But now, even with the unprecedented rise in bullish strength, it isn't worth to buy Litecoin when it has attained stratospheric valuation. Technical analysis of the 240-minute LTC-USD price chart conveys that the....