Litecoin Price Technical Analysis for 1/10/2015 - Flat
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.....
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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....
I think that Litecoin has taken offence from my last analysis As Flat As It Gets and surged over 20% during the weekend to cross the overhead resistance. Litecoin is now trading up $0.839 or 22.45% at $4.575, thanks to a nearly 6% rise in Bitcoin. Even with technical indicators remaining bearish, Litecoin surged during the weekend helped by a rise in the leading cryptocurrency Bitcoin. It has been following Bitcoin since the dramatic fall (see the big red candle in the chart above), replicating its every move. Even now, Litecoin has halted its upmove as Bitcoin has hit a resistance.....
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....