Litecoin Price Technical Analysis for 12/10/2015 - Kissing the Resistance
Litecoin extends its rally to hit a high of $3.140 as the cryptocurrency aims to soar past the immediate overhead resistance at $3.130. Currently at $3.121, Litecoin is in a strong bullish grip and may leapfrog to higher levels on consistent support from buyers. Rising Bitcoin market is also aiding the Litecoin market. Although the risks cited in the previous Litecoin price analysis Closing In have been averted for now, we can never be too cautious for a volatile cryptocurrency like this one. Therefore, let us see what the technical indicators have to say about the latest price advance.....
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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 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,....
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....
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....
Starting from today, I will be posting a daily litecoin price technical analysis, so I guess it's better to establish key resistance and support levels that will be a base for our future analyses during the upcoming couple of weeks. Litecoin price increased to score a high of $2.04 yesterday, before dropping to a low of $1.79. By examining the 1 hour (LTC/USD) and (BTC/USD) charts, we can clearly see that litecoin price is mirroring what is happening on the bitcoin charts. By studying the 1 day Bitfinex (LTC/USD) chart from tradingview.com and plotting the Fibonacci retracement fan along a....