Litecoin Price Technical Analysis For 22/12/2015 - Target Additional Weakness
Key Highlights. Litecoin price consolidated in a tiny range after a nasty decline towards the $3.40 support area. Selling rallies may be a good idea moving ahead as there is a major confluence resistance area forming near a bearish trend line formed on the 4-hours chart (data feed from HitBTC). On the downside, a break below $3.40 could take the price further lower may be towards $3.20. Litecoin price is struggling to gain traction, which means it remains at a risk. Selling rallies towards the 100 MA (4H) is preferred. 100 MA (4H) as Resistance. Litecoin price looks like consolidating in a....
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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 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....
Yes, you read that right! The next price target for Litecoin is $2.000; my previous PT (price target) of $3.000 for August has been met and surpassed, and I believe the cryptocurrency will witness severe pain in the coming sessions as well. As Bitcoin witnessed its Black Monday, it became increasingly clear that Litecoin will face the wrath of the bears. Litecoin is currently trading at $2.530, down a massive 24 percent and the decline may only accelerate going forward. Take a look at the latest daily LTC-USD technical considerations below. Litecoin Chart Structure - Litecoin has broken....
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 party continues in Litecoin markets as the price rose another 2.66% or $0.13 to $4.978. With successive gains, Litecoin is fast approaching its previous top of $5.237. The technical indicators reflect no weakness as of now. Litecoin may have some more steam left in it, and hence, dips can be used to buy the cryptocurrency. Read on to find the latest technical factors below. Litecoin Chart Structure - In yesterday's rally, Litecoin jumped to $5.080 before easing slightly. Another factor weighing on Litecoin is the stalling of Bitcoin. I had earlier mentioned that the rise in Litecoin is....