Litecoin Price Technical Analysis – Inverse Head and Shoulders?
Litecoin price if stays positive may trade higher. There is an inverse head and shoulders pattern in making that can ignite an upside rally. Support Level (HitBTC) is at $3.08. Resistance Level (HitBTC) may be $3.18. Litecoin price is showing a few positive signs on the lower as well as on the higher time frame charts. The price yesterday attempted on a couple of occasions to clear a bearish trend line formed on the 30-min chart (data feed via Bitfinex), and buyers finally succeeded in taking the price higher. The price cleared yesterday’s bearish trend line, but there is now another....
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Key Highlights. Litecoin price settled above a major resistance area that may now act as a support moving ahead (price feed from Bitfinex). There is a chance that the price is forming an inverse head and shoulders pattern on the hourly chart (price feed from HitBTC), suggesting a move higher. A break above a critical area at $3.40 is needed for buyers to take the price higher. Litecoin price is likely forming an inverse head and shoulders pattern, which may encourage buyers to take it higher moving ahead. Inverse Head and Shoulders Pattern. Litecoin price struggle continues to break the....
Bitcoin Price Key Highlights. In the previous weekly analysis, we highlighted an inverse head and shoulders pattern, which played well and acted as a catalyst for an upside move. The price is currently trading in a positive zone, as it settled above the neckline of the inverse head and shoulders pattern. Bitcoin price after trading lower and finding support around 200.00 formed an inverse head and shoulders pattern for a move higher. Inverse Head and Shoulders Pattern. This past week we stated that the 200.00 support area was a major barrier for sellers that prevented more downsides and....
Ethereum Price Key Highlights. Ethereum price seems to be on the verge of a reversal after breaking above a short-term descending trend line last week. A complex inverse head and shoulders pattern has formed on the 1-hour time frame, indicating that an uptrend is in the cards. Ethereum price appears to have broken above the neckline of the inverse head and shoulders formation, confirming that more gains are likely. Upward moving averages crossover. Price moved past the 0.00220BTC level and has since pulled back to the broken neckline, which might now hold as support. The moving averages....
Key Highlights. Litecoin price is likely forming a head and shoulders pattern on the hourly chart (price feed from Bitfinex). If the highlighted pattern is valid, then the price may break lower and head towards the all-important $3.00 support area. There is a lot of bearish pressure, as our previously stated resistance at $3.20-30 continued to act as a barrier. Litecoin price may dive sharply moving ahead, as there is a bearish pattern (head and shoulders) forming on the hourly chart. Neckline Break Near? We mentioned in yesterday's post that Litecoin price may head lower as there was a....
After hitting a high of $4.85, Litecoin price dropped earlier today to print a low of $4.20 on Bitfinex. As we predicted during yesterday's analysis, price correction is attempting to pull down the price, yet it is well supported above the $3.62 level which corresponds to the 0.618 retracement level according to the Fibonacci retracement we plotted. (Read yesterday's Litecoin analysis here). A Head and Shoulders Pattern on the 1 Hour Charts: By studying the 1 hour (LTC/USD) charts from Bitfinex (look at the below chart) and plotting the 20, 50 and 100 EMAs, we can observe the following:....