Litecoin Price Technical Analysis – Selling Best Option
Litecoin price stalled around the $3.30 area. It is currently under a lot of bearish pressure that could result in a sharp downside move. Major Support Level (HitBTC) can be $3.10. Crucial Resistance Level (HitBTC) may be $3.18. Litecoin price after trading as high as $3.20 (data feed via Bitfinex) found resistance and started to move down. There was a lot of selling pressure noted, which resulted in a continuous downside move. There is a bearish trend line formed on the 30-min chart (data feed via Bitfinex), as highlighted in this past week’s analysis. We sold a couple of times around the....
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Litecoin is trading 0.31% or $0.014 down at $4.536 as selling pressure increases. While the price sustains above the support provided by $4.100, it may seem that a base may have been hit, but before establishing that we must take into consideration what the technical indicators are conveying. And I think they are pointing towards what was discussed in my previous analysis titled This May Turn Real Ugly! Litecoin Chart Structure - Litecoin has been repeatedly testing the support line but has failed at achieving a higher high on the rebound. The cryptocurrency is witnessing what is aptly....
It seems that the big negatives I mentioned in my previous analysis are coming into play, and well. Since yesterday, Litecoin has crashed in excess of 12% and is now trading at $3.980. If Litecoin fails to recover these losses and closes today's session below the strong support of $4.100, we may see a huge decline of 25% in the coming sessions. And I strongly believe that we will see lower levels. Let's take a look at the technical analysis of the daily LTC-USD price chart above. Litecoin Chart Structure - Litecoin had been consolidating above the support level for a considerable time,....
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....
The gone-by weekend proved to be bearish for both Litecoin and Bitcoin. While Bitcoin suffered an approximately 2 percent decline, Litecoin too suffered a 1 percent loss. But the magnitude of the volatility in the latter overshadowed that in the former. Litecoin is presently trading at $3.943, down 0.93 percent since Friday. Things are still relatively good in Litecoin than in Bitcoin, and may become even better if Bitcoin sustains at the current level or rebounds quickly. Take a look at the latest technical considerations of the daily LTC-USD price chart below. Litecoin Chart Structure -....
In my previous analysis Gains Erased, I had laid down a few technical considerations which forced me to think that another round of selling is in the offing for Litecoin. Today, I am going to bring to your attention another big divergence which may eventually prove to be damaging to the cryptocurrency. But before that, here is an update on the price: Litecoin is currently trading up $0.056 or 1.52% at $3.732. Presented below are the technical observations of the daily LTC-USD price chart. Litecoin Chart Structure - Similar to Bitcoin, Litecoin has completed six straight days of no....