Litecoin Price Technical Analysis - Tight Consolidation!
Litecoin Price Key Highlights. Litecoin price is consolidating tightly on its 1-hour time frame, finding resistance at 3.320 and testing support at 3.215. Further consolidation might be likely, as technical indicators are barely offering strong directional clues at the moment. A downside break from the current range of litecoin price could lead to a move down to the next floor at 3.150. Two Ranges Present. Litecoin price appears to be pressing down on the bottom of the range, as it has formed lower highs since late last week. This suggests that bearish momentum is building up and sellers....
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Litecoin started the week mostly in a tight consolidation between roughly 1.45 and 1.50 as we can see in the 1H chart below. Litecoin (LTCUSD) 1H Chart, April 14. Towards the end of the session, the price action of litecoin broke below the 1.45 low and dropped to 1.36 before stalling. Here are some other technical observations from the 1H chart:1) The breakout is continuing an expected process of “chewing” a tail created by a downward spike last week that created a new low on the year around parity (1.00). 2) Price remains under the 200-, 100-, and 50-hour simple moving averages (SMAs),....
Litecoin has advanced following the lead of Bitcoin in the anticipation of a solution to the Greek crisis. While Bitcoin has staged a breakout, Litecoin's upside potential remains capped by a resistance line. Litecoin is currently trading up 0.97% at $3.019. I had mentioned in my previous analysis that Litecoin should be shorted if the price rose to $3.020, and I reiterate that short positions should be built by placing a stop-loss (closing basis) above $3.050. Technical analysis implemented on the 240-minute LTC-USD price chart indicates that the market is awaiting a trigger to make a big....
Litecoin Price Key Highlights. Litecoin price finally broke out of the ascending triangle consolidation pattern visible on its long-term charts, signaling that it's ready for more gains. Price broke above the triangle resistance and could keep heading further north. Litecoin price exhibited a strong bullish run, as it made a convincing break above a tight long-term consolidation pattern. How High Can It Go? Although the buying pressure was pretty strong, litecoin price seems to have lost some momentum upon hitting resistance at the 4.00 level, as this lines up with a previous area of....
Litecoin Price Key Highlights. Litecoin price is currently stuck inside a rising wedge pattern on its 4-hour chart, indicating a slight trend higher with a bit of consolidation. Price found resistance at the area of interest around the middle of the wedge and went for a test of support. Litecoin price bounced off the wedge support and may be in for a stronger climb up to the resistance at $3.400. Potential Breakout Soon. For now, the 100 SMA is above the 200 SMA, which suggests that the uptrend could carry on. However, stochastic and RSI are both heading down from the overbought zone,....
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....