Litecoin Price Technical Analysis - Remains Attractive to Buyers
Key Highlights. Litecoin prices continued to move higher, and are likely heading towards the all-important $4 resistance area. There is a support trend line formed on the hourly chart (data feed from Bitfinex), which can be seen as a buy area. There is a monster channel formed on the 2-hour chart (data feed provided by HitBTC), which may act as a catalyst for the next move. Litecoin's price remains supported on dips, and there is a high probability that it may move towards $4 where sellers could prevent the upside. Buy Dips? Litecoin's price gathered pace recently, as forecasted in....
Related News
Litecoin gave us another glimpse of its highly volatile nature in yesterday's trading session. In my previous analysis titled Sky is the limit, I had reiterated my opinion that Litecoin is expensive and should be avoided at current levels. Bullish participants may have realized the same when the cryptocurrency had a knee-jerk reaction. Litecoin is presently trading down 3.06% at $5.214. Looking at the 240-minute LTC-USD price chart, I can say that technical indicators are currently giving conflicting signals while the chart structure remains firm. Litecoin Chart Structure - At one point of....
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 dropped 6.47 percent to trade at $2.733 as the underlying negativity comes to the fore. We discussed in the previous Litecoin price technical analysis The Pressure is Evident that there is a very low probability of the price trending higher and that bears may make an early comeback. This decline has also brought the price closer to its very important technical support of the 200-day simple moving average (SMA). The question that the trading community is now asking is: will this level cushion Litecoin once again? I continue to remain bearish on Bitcoin as well, which I believe....
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....
Litecoin price has jumped 3.35 percent to $3.980 after retesting the downward sloping support line. In the previous Litecoin price technical analysis Cautiously Optimistic, I had revised the support level to $3.720 and suggested that a weakening Bitcoin could add more pressure on the Litecoin bulls. As Bitcoin came down with a thud, Litecoin also tumbled to a low of $3.764 before gaining positive momentum. Short covering may have also helped the bulls' cause. Technically, Litecoin is still on a slippery slope but rising after retesting the support should give confidence to the buyers. Take....