Litecoin Price Intraday Analysis for 23/11/2015 - Still Capped by $3.20-30
Key Highlights. Litecoin price continued to trade below a major pivot area of $3.20-30 (price feed from Bitfinex) and failed to move higher. A descending channel is now formed after the price failed to break the stated resistance area. It is trading near a crucial juncture, as a break below the channel support may call for another round of selling. Litecoin price is having a tough time and may continue to trade lower as seller's steps in to prevent gains every time buyers take it higher. 100 MA as Catalyst. There was a decent upside ride in Litecoin price this past week, as it found....
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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.....
I do not have any positives to lay out for the bulls, neither regarding the weekend action nor regarding the future price expectation. I had advised in Crashes 20% Intraday that any rally up to the resistance level of $4.100 should be used to go short in the counter. During the weekend, the price did enter the bears' mansion and has been sliding since then. Currently, Litecoin is trading at $3.678, down 1.34% from Friday's observation. Litecoin looks weak from the purview of technical indicators as well. Find below the technical considerations of the daily LTC-USD price chart. Litecoin....
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....
As was expressed in Danger Looms, Litecoin witnessed a strong selloff intraday, crashing by a little more than 20%. I expected the cryptocurrency to hit $3.100 but the price reversed from $3.180. Yesterday marked the fourth straight day of losses for Litecoin. Currently, Litecoin is trading with a deep cut of 6.33% since yesterday's observation. From a technical perspective, it looks like Litecoin will continue to devalue against the US dollar and hence, rebounds should be used to go short in the counter. Litecoin Chart Structure - After breaching the crucial support of $4.100, the....
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,....