Litecoin Signal Shines, Suggests Downtrend Against Bitcoin Is Over
Litecoin is trading at around $200… still. The altcoin has failed to set a new all-time high like Bitcoin, Ethereum, and others in the top ten have, yet it has clung onto the ranks for its entire lifetime. A signal has appeared – across several of the highest timeframes – that could suggest that the […]
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After registering a fresh 2015-top of $3.194, Litecoin can be seen consolidating below $3.000. However, with momentum and chart structure strongly supporting the buyers, Litecoin has edged up 3.33% to $2.945. Now that the key trigger for the financial markets world, i.e. the Fed meeting has been priced in, it would be interesting to see if Litecoin is able to continue its rally. Technical analysis of the 240-minute LTC-USD price chart suggests that the cryptocurrency is still a very risky trade and should be avoided for now. Litecoin Chart Structure - As can be seen from the chart above,....
The rebound in Bitcoin is supporting Litecoin as well. After slumping to a new monthly low, Litecoin is extending its gains to $3.534, up 1.29 percent. I think that a further rise in Litecoin will be a good opportunity to go short. Take a look at the technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure. If we take a look at the chart above, it can be safely said that Litecoin is in a strong downtrend. With Bitcoin still weak, it is proving hard for Litecoin to unshackle from this range. The resistance according to the above trend comes in at around $3.850.....
In the previous Litecoin price technical analysis Something Big is Coming!, we touched upon the triangle pattern formation, a breakdown from which is expected to resume the downtrend that the cryptocurrency is in. Litecoin is currently trading at $2.812, barely higher than its previous observation of $2.800. As Litecoin tests the patience of the market participants for another day, I would advise them to hold tight as an immediate breakout from the pattern is imminent. Litecoin Chart Structure - Not much has changed in the chart structure except that the range has contracted even further....
Litecoin was one of this week’s biggest movers and shakers in crypto, beating even Bitcoin substantially. The bullish impulse took the altcoin to a year-long downtrend line against BTC but unfortunately was rejected hard. With the general consensus being that Litecoin often leads the way for altcoin trends, a further fall against Bitcoin – as […]
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....