Litecoin Price Technical Analysis – Continues to Probe 100 Hourly Average
Litecoin price is struggling to settle above the 100 hourly MA. It looks like there might be a short-term dip before it find buyers once again. Intraday Support Level (Bitfinex) may be at $3.10. Intraday Resistance Level (Bitfinex) can be at $3.20. There were a few positive signs for Litecoin price this past week, as it managed to move higher after trading as low as $3.01. The price has now formed an ascending channel pattern formed on the hourly chart (data feed via Bitfinex), which is acting as a mover for the price. However, the price is struggling to break the channel resistance trend....
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Key Highlights. Litecoin's price is struggling to gain momentum, and continued to probe an important bearish trend line on the hourly chart (data feed from Bitfinex). Only a break above the highlighted trend line and resistance area could ignite an upside move. On the positive side, there is a bullish trend line formed on the 2-hour chart (data feed from HitBTC), acting as a support. Litecoin's price is showing bearish signs if we look at the lower time frame chart, but it is bullish if we look at the 2-hour chart. Buy with a Break? Litecoin's price looks like it's struggling to gain....
Since the last Litecoin price technical analysis Will This Support Hold?, Litecoin has gained $0.067 or 2.45 percent to trade at $2.800. The better part is that Litecoin is currently in a short-term technical pattern which will lead to a big swing in the price. Read on below the latest technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure - Upon a closer look at the price action of the past 6-7 sessions, it can be found that Litecoin has been trading in a small triangle. A triangle, which is a continuation pattern, in a downtrend implies that a bigger downmove....
The Litecoin market has gotten awfully quiet, and so has the Bitcoin market. Now at $2.820, Litecoin is relatively unchanged on a weekly basis, and its key to survival depends on how Bitcoin behaves in the coming sessions. Market participants should note that the technical indications coming out of the Bitcoin market are reflecting a strong bearish bias, which could be a worrisome sign for the Litecoin bulls as well. Here are the latest technical indications derived from the daily LTC-USD price chart. Litecoin Chart Structure - Litecoin is currently trading closer to its recent low of....
Litecoin has dropped 6.47 percent to trade at $2.733 as the underlying negativity comes to the fore. We discussed in the previous Litecoin price technical analysis The Pressure is Evident that there is a very low probability of the price trending higher and that bears may make an early comeback. This decline has also brought the price closer to its very important technical support of the 200-day simple moving average (SMA). The question that the trading community is now asking is: will this level cushion Litecoin once again? I continue to remain bearish on Bitcoin as well, which I believe....
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....