Litecoin Price Technical Analysis - Continued Risk of Weakness
Key Highlights. Litecoin's price-after collapsing towards $3.50-started to trade in a range, and is preparing for the next move. There is a monster support trend line formed on the 2-hour chart (data feed from HitBTC), which holds the key moving ahead. A break and close below $3.50 could ignite more losses and take the price towards $3.30. Litecoin's price is likely setting up for the next move, and it would be interesting to see whether buyers manage to defend the $3.50 support area or not. Can Sellers Make it? Litecoin prices fell sharply this week after trading as high as $4.30; the....
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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....
Litecoin is currently down 1.38 percent at $2.781 as the Bitcoin market registers a breakdown. As mentioned in the previous Litecoin price technical analysis No Trading Zone, market participants have their eyes now set on $2.700, the level which had acted as a support in the past. And further weakness in the Bitcoin market may lead to a breakdown kind of situation in Litecoin as well. Here are the latest technical points from the daily LTC-USD price chart. Litecoin Chart Structure - As can be seen, Litecoin remains capped under the influence of the 30-day simple moving average, the current....
The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level. Litecoin is currently trading at $3.110. Technically, Litecoin remains on a very strong footing but it runs a major risk as well - the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity. Litecoin Chart Structure -....
Litecoin has broken out from the two-week trading range we discussed in the previous Litecoin price technical analysis titled Range Trading? as positivity from the Bitcoin market spills over. Litecoin is currently trading at $2.887. Though a breakout may seem as the best indication for the market participants to go long on Litecoin, my advice would be to wait for a close above $2.950 or buy on a dip. But, why do I say this? Read on the technical indications below to find out. I still find the technical indications fairly mixed and therefore, require stronger signals or a low-risk....
Litecoin fell more than 5 percent over the weekend as weakness returned to haunt the cryptocurrency markets. The Bitcoin market is also struggling to cope with the selling pressure and has returned to its crucial support of $220. Litecoin is currently trading at $3.330 and is well within its medium term trading range. In the previous Litecoin price technical analysis Sell on Rallies, we discussed how Litecoin remains weak and any rise in the valuation can be used to go short. That holds valid for even today. The latest technical indicators are nowhere positive or indicate that a reversal....