Litecoin Price Weekly Analysis – Facing Monster Hurdle
Litecoin price recovered well after a major drop. However, the bulls have a job on their hand, as LTC/USD faces a major resistance areal. An important resistance Level is at $3.25. Litecoin price managed to trade higher against the US dollar and was mostly seen consolidating below a major resistance area of $3.25-30. There is a confluence area forming around the stated levels, as there is a bearish trend line on the 4-hours (data feed via Bitfinex) positioned. Moreover, the 61.8% Fib retracement level of the last drop from the $3.40 high to $3.00 low is also aligned near it to increase the....
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Key Highlights. Litecoin price after attempting a correction failed, and currently heading lower. The price breached a monster support area, which is signaling towards more declines ahead. Litecoin price clearing a critical support area is a warning sign to buyers and could ignite a downside move. Litecoin price solid run towards the upside failed around $8.98, as it traded lower. The downside was stalled around $3.24. It was a monster decline, as pointed in the previous weekly analysis. However, buyers made an attempt to take the price higher, but the upside was stalled just below the....
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Key Highlights. Litecoin price after finding support around $3.24 traded higher, but facing an important hurdle on the upside. There is a major bearish trend line formed on the 4-hours chart of Litecoin, which is holding gains in the near term. Litecoin price making an attempt to move higher, but sellers are facing some key resistance areas which are needed to be breached. It looks like that after the monstrous decline as mentioned in one of the previous analyses, the Litecoin price is finding buyers around $3.20 support area. The price made an attempt to correct higher, but it faced....
Litecoin Price Key Highlights. Litecoin price traded higher towards $3.24 and started correcting lower to trade below $3.00. There is a bearish trend line formed on the 4-hours chart of the Litecoin price, which is acting as a hurdle in the short term. Litecoin price is attempting to move higher after completing a short-term correction, but facing resistance around a trend line. Importance of $3.00. The Litecoin price recently traded higher to move towards $3.25 where it found sellers for a move lower. There was a minor correction, which stalled near the 61.8% Fib retracement level of the....