Litecoin Price Technical Analysis for 24/9/2015 - Range Trading?
Litecoin manages to stay afloat, thanks to the rebound in Bitcoin, and can be seen testing an important short-term resistance. At $2.844, Litecoin also offers a very low-risk shorting opportunity. But before we go all bearish on Litecoin, let us visit the latest technical indications for further clarity. Here is a lowdown of the key technical aspects from the daily LTC-USD price chart. Litecoin Chart Structure - From the above chart, it is clear that Litecoin has been trading in a contracting channel since September 7. The cryptocurrency is now at the higher end of this range, which tempts....
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Litecoin has broken out from the two-week trading range we discussed in the previous Litecoin price technical analysis titled Range Trading? as positivity from the Bitcoin market spills over. Litecoin is currently trading at $2.887. Though a breakout may seem as the best indication for the market participants to go long on Litecoin, my advice would be to wait for a close above $2.950 or buy on a dip. But, why do I say this? Read on the technical indications below to find out. I still find the technical indications fairly mixed and therefore, require stronger signals or a low-risk....
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....
Following the lead of Bitcoin, Litecoin has gained 5.69% over the weekend. The advance has also brought the price closer to its resistance zone, beyond which Litecoin may witness a massive rally. Litecoin is currently trading at $3.047. In my previous analysis titled This Market is not for the Greedy!, I had suggested that Litecoin be shorted by keeping a strict stop-loss above $2.980. Those who would have followed this advance would have minimized their losses significantly. Technical analysis of the 240-minute LTC-USD price chart points to a probability that the cryptocurrency may, in....
Litecoin fell more than 5 percent over the weekend as weakness returned to haunt the cryptocurrency markets. The Bitcoin market is also struggling to cope with the selling pressure and has returned to its crucial support of $220. Litecoin is currently trading at $3.330 and is well within its medium term trading range. In the previous Litecoin price technical analysis Sell on Rallies, we discussed how Litecoin remains weak and any rise in the valuation can be used to go short. That holds valid for even today. The latest technical indicators are nowhere positive or indicate that a reversal....
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....