Litecoin Price Technical Analysis For 09/02/2016– Sell Target Achieved
Litecoin price struggled to move higher Intraday. There was a downside reaction, taking the price towards our sell target of $3.0. Intraday Support Level (HitBTC) can be $3.05. Intraday Resistance Level (HitBTC) may be $3.16. Litecoin price moved a few points higher yesterday to trade near a bearish trend line formed on the 30-min chart (data feed via Bitfinex). I highlighted that we can plan on entering a sell trade near the highlighted trend line and resistance. It played well and if you entered a position, then it’s time to take profits, as our target of $3.0 was achieved. The price did....
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Key Highlights. Litecoin price broke a major support area on the hourly chart (price feed from Bitfinex) and traded lower. Our initial sell target of $3.10 was achieved as forecasted in the recent technical analysis post. The price may attempt to correct higher in the short term and might face sellers near $3.15-20. Litecoin price moved lower sharply and failed to trade higher, suggesting that buyers are struggling to hold the ground. Support Turned Resistance. Finally, our previously highlighted $3.40 resistance area acted as a catalyst and pushed Litecoin price lower. A major support....
In the past 24 hours, Litecoin price has swung from a low of $1.60 (my target achieved) to a high of $1.82, before giving up most of its gain to be trading at $1.71. In my yesterday's analysis titled Weak Stance, I advised against shorting the cryptocurrency at lower levels and to sell only on a rise. Litecoin may have derived its volatility from the turmoil in Bitcoin. But, it has also established a short-term trading range; with $1.60 as the floor and $1.82 as the ceiling (marked in the price chart below). In one of those rare disconnects from Bitcoin, Litecoin is trying to push its way....
Ethereum price tumbled recently, and traded towards $8.00. It was a perfect sell, and it looks like the bulls may be exhausted. Ethereum price ETH was down and out, as there was a sharp downside move towards the $8.00 support area. I mentioned in my previous analysis that there is a chance of a decline in ETH/USD due to the technical indicators. It was a perfect sell, and the final target of $8.0 was achieved. There was a bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD, which acted as a perfect catalyst for a decline. The price traded below $8.0, and a new low of....
Litecoin price – after finding bids near the $3.50 support area – traded higher earlier, but yesterday sellers managed to take the price down. There was a bearish trend line on the hourly chart (data feed from Bitfinex), as highlighted in yesterday’s post. The trend line and resistance area played well and stalled an upside break in Litecoin price. There was a solid resistance confluence area formed near $3.557, which acted as a barrier and ignited a short-term bearish rally. The 100 hourly simple moving average (data feed from Bitfinex) along with the 50% Fib retracement level of the last....
Yes, you read that right! The next price target for Litecoin is $2.000; my previous PT (price target) of $3.000 for August has been met and surpassed, and I believe the cryptocurrency will witness severe pain in the coming sessions as well. As Bitcoin witnessed its Black Monday, it became increasingly clear that Litecoin will face the wrath of the bears. Litecoin is currently trading at $2.530, down a massive 24 percent and the decline may only accelerate going forward. Take a look at the latest daily LTC-USD technical considerations below. Litecoin Chart Structure - Litecoin has broken....