Litecoin Price Technical Analysis for 27/11/2015 - Primed For Gains
Key Highlights. Litecoin price after climbing higher started to consolidate gains and mostly traded with a bullish tone. There is a bullish trend line formed on the hourly chart (price feed from HitBTC), i.e. acting as a buying zone in the short term. On the upside, a break above $3.70 could ignite another rally higher may be towards $4.00. Litecoin price continued to strengthen after the recent surge, and it looks set for more gains as long as it stays above $3.50. Trend Line Support. Litecoin price rocketed higher recently to trade near $3.83 where gains were stalled, and the price....
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Litecoin has posted muted gains of 1.12%, in line with Bitcoin. It is currently trading at $4.318. In my previous technical analysis titled Dead Cat Bounce, I mentioned that Litecoin should face resistance near $4.500. The cryptocurrency did reach $4.440 before retreating. Apart from this, the technical indications are highly mixed. Litecoin Chart Structure - There is no significant price action that has taken place in Litecoin. It is broadly a lower top, lower bottom structure, and there is a good probability that it stays that way. Fibonacci Retracements - The 23.6% Fibonacci retracement....
Litecoin has posted surreal gains following the Greek referendum, soaring from our last observation of $4.100 to hit a new 9-month high of $5.000 before partial profit booking dragged the price down. Litecoin is currently trading up 16.71% at $4.785 since my last observation, vastly outperforming Bitcoin. It seems that Litecoin has decided to continue to defy gravity even when it is grossly overbought. Technical analysis of the 240-minute LTC-USD price chart confirms that the cryptocurrency does not deserve your dollar at the current level. Litecoin Chart Structure - The above chart....
The gone-by weekend proved to be bearish for both Litecoin and Bitcoin. While Bitcoin suffered an approximately 2 percent decline, Litecoin too suffered a 1 percent loss. But the magnitude of the volatility in the latter overshadowed that in the former. Litecoin is presently trading at $3.943, down 0.93 percent since Friday. Things are still relatively good in Litecoin than in Bitcoin, and may become even better if Bitcoin sustains at the current level or rebounds quickly. Take a look at the latest technical considerations of the daily LTC-USD price chart below. Litecoin Chart Structure -....
In my previous analysis Gains Erased, I had laid down a few technical considerations which forced me to think that another round of selling is in the offing for Litecoin. Today, I am going to bring to your attention another big divergence which may eventually prove to be damaging to the cryptocurrency. But before that, here is an update on the price: Litecoin is currently trading up $0.056 or 1.52% at $3.732. Presented below are the technical observations of the daily LTC-USD price chart. Litecoin Chart Structure - Similar to Bitcoin, Litecoin has completed six straight days of no....
Litecoin has jumped another 12% since yesterday, adding to its surreal gains and decimating the bears. In my previous analysis, I had recommended shorting the cryptocurrency near $5.300 by placing a stop-loss above $5.500 and Litecoin has proved me wrong. Litecoin is currently trading up 12.41% at $5.379. Technically, Litecoin looks formidable even at these outrageous levels. The 240-minute LTC-USD price chart indicates strong bullish force behind the rise and it has become incredibly difficult for me to comment as to when the profit booking will come in or when the market would realize....