Litecoin Price Weekly Analysis – $3.18-$3.32 Range Persist
Litecoin price after trading near $3.00 recovered well. If the buyers manage to break the highlighted trend line and resistance area, then more upsides are likely. Litecoin price after diving towards the $3.00 support area against the US dollar moved back higher. It looks like a short-term range is forming of $3.18-$3.32, as the price found bids time and again around $3.18 and offers near $3.32. However, there are a few positive signs to look, as the price is above the 100 simple moving average (4-hours chart, data feed via Bitfinex). Moreover, the price also broke the 50% Fib retracement....
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Litecoin (LTC) has continued to range in a channel against Tether (USDT) as it attempts to break out of this trend. The price of Litecoin LTC has shown little to no major movement despite the change in trend across the market in recent weeks as many altcoins rallied and produced gains of double digits. (Data from Binance) Related Reading: When Will Bitcoin Become An Inflation Hedge? Scaramucci Explains Litecoin (LTC) Price Analysis On The Weekly Chart From the chart, the price of LTC saw a weekly low of $45, which bounced from that area and rallied to a price of $56; considering its....
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....
Following the lead of Bitcoin, Litecoin has gained 5.69% over the weekend. The advance has also brought the price closer to its resistance zone, beyond which Litecoin may witness a massive rally. Litecoin is currently trading at $3.047. In my previous analysis titled This Market is not for the Greedy!, I had suggested that Litecoin be shorted by keeping a strict stop-loss above $2.980. Those who would have followed this advance would have minimized their losses significantly. Technical analysis of the 240-minute LTC-USD price chart points to a probability that the cryptocurrency may, in....
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 continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....