Litecoin Price Technical Analysis for 7/10/2015 - Strong Resistance Ahead
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....
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Litecoin bulls seem to be facing a strong supply pressure near $1.80. Even though the price has rebounded from a six-week low of $1.60 to the current $1.79, I still believe that this is a seller's market, and that rallies should be used to exit long positions and initiate fresh shorting. As can be seen, I have used a 240-minute LTC/USD price chart and applied multiple technical indicators as well as marked key technical resistance levels. Interestingly, they all point to one thing: Exit on Rise. Technical Resistances: Litecoin is now struggling near Resistance Line 1 (marked above). The....
The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level. Litecoin is currently trading at $3.110. Technically, Litecoin remains on a very strong footing but it runs a major risk as well - the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity. Litecoin Chart Structure -....
Litecoin's steady advance has brought the price up to the highest level of June i.e. at $1.800, and it may go even higher as bulls tighten the noose on the bears. In my previous analysis titled, Buy, But Don't Forget This!, I mentioned that Litecoin is a buy on dips candidate; that statement holds for today as well! Litecoin is currently trading up 2.10% at $1.797. Litecoin's chart structure is strongly bullish, however, the technical indicators reflect a mixed outlook. A 240-minute LTC-USD price chart has been analyzed here. Litecoin Chart Structure - Litecoin's higher top, higher bottom....
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 has broken above the resistance line discussed in At Resistance, giving the buyers an opportunity to add long positions. Litecoin is currently trading at $4.051, up 3.34% aided by a price jump in Bitcoin. Since there is a strong correlation between Litecoin and Bitcoin, any pressure on Bitcoin will get reflected in Litecoin as well. Read the latest technical observations of the daily LTC-USD price chart to get a better idea. Litecoin Chart Structure - Now that Litecoin has breached the resistance, the target on the upside is $4.500. However, it must also be noted that the breached....