Litecoin Price Technical Analysis For 15/01/2016 - Retest of Lows?
Litecoin price is trading lower with a bearish bias. It looks like there is a chance of a retest of lows around $3.369 (data feed from Bitfinex). Intraday Support Level (Bitfinex) can be at $3.36. Intraday Resistance Level may be seen at $3.44. Yesterday, I highlighted that there is a possibility that sellers may appear another time and take the price lower. The price did move down Intraday, and currently looks set for more losses in the near term. Our sell near the 100 hourly simple moving average played well and it’s time to book profits. The highlighted resistance near the 100 hourly....
Related News
The Litecoin price has dropped 1.04% against the USD, while tailing the Bitcoin price action which earlier broke below the downside risk level as a part of correction. Litecoin instantly got corrected towards the intraday low near 1.99, and also formed lower lows towards 1.97. The market however picked some upside momentum in last few hours, bringing Litecoin price in a position from where it could retest the channel resistance near 2.02 soon. The technical indicators on a 4H BTC-e chart are indicating a near-term consolidation scenario. As you can notice, the Litecoin price is just a....
Litecoin bulls have clawed their way back in as price leapfrogs from $1.98 to $2.06. There may be more good news in store for the investors as several technical indicators and a bullish price chart formation point to a surge in the Litecoin prices. But, for the investors' wealth to soar, Litecoin will have to cross one major hurdle: closing above $2.08. A comprehensive technical analysis on the Litecoin/Dollar 240-minute price chart taken from www.tradingview.com prominently favors the bulls. Price Structure - The price structure in the past one week has represented sideways consolidation;....
Litecoin Price Key Highlights. Litecoin price has been gradually trending higher against the U. S. dollar, mostly due to the latter's selloff in recent trading sessions. Price is currently testing the bottom of the ascending channel visible on its short-term time frame and might be due for a bounce. Litecoin price is on a steady uptrend these days and could be in for a much stronger bounce, as it is testing the rising channel support. Bullish divergence forming. Litecoin price has been forming higher lows while technical indicators drew lower lows, creating bullish divergence for both RSI....
In yesterday's analysis entitled Bulls Rise, Challenge Resistances, I mentioned that Litecoin was challenging a key resistance level of $1.865. As of today, the cryptocurrency has failed to edge above this level and has come down to $1.852 as minor profit booking is witnessed. Below has been presented the technical considerations which traders must take into account before making fresh trades or deciding on existing ones. A 240-minute LTC/USD price chart has been used to serve the purpose. Litecoin Chart Structure - Since Litecoin is trading near the upper range of the band and refuses to....
After a sharp spike off a support level, litecoin price is still exhibiting a steady downtrend and is testing the moving average on its 1-hour time frame from Bitfinex. If the short-term MA (red) continues to hold, price could retest its former lows and perhaps make new ones. Technical indicators on the same time frame confirm that the cryptocurrency is set to weaken in the short term. The shorter-term EMA (red) is moving below the longer-term EMA (green), confirming the presence of bearish pressure. In addition, the moving averages are edging further apart, which means that the selling....