Indecisive Close For Litecoin, But The Real Story Lies In BTC.D’s Next Move
Litecoin (LTC) wrapped up the day with an indecisive close, leaving traders on the edge of their seats. While LTC’s price action offered little clarity, the bigger picture may be unfolding elsewhere. According to market watchers, the real catalyst for Litecoin’s next significant move could come from Bitcoin Dominance (BTC.D). A shift in BTC.D could tip the scales, either paving the way for a bullish breakout or extending its current sideways drift. Litcoin And LTCBTC Await A Clear Signal In a recent update, market analyst CRYPTOWZRD offered a detailed, cautious take on Litecoin’s current....
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Litecoin price ranged between $1.78 and $1.83 throughout yesterday's trading sessions. The upcoming few hours are rather critical and will decide whether or not litecoin price will rise to test the next resistance level at around $1.93, especially that (BTC/USD) charts also seem indecisive at the moment. By studying the 1 day Bitfinex (LTC/USD) charts from tradingview.com, plotting the 20 day EMA (blue), the 50 day EMA (green) and the 100 day EMA (orange), calculating the RSI and executing the MACD indicator, we can conclude the following: We can draw Fibonacci retracements across a trend....
Litecoin has tumbled roughly 5 percent as Bitcoin went weak and has neared the downward sloping support. In the previous Litecoin price technical analysis titled Breaks Out, Buy Near Support, I mentioned that any pressure on Bitcoin will get reflected in Litecoin as well. It was also stated that the support of $3.820 should prevent immediate losses. As can be seen, the cryptocurrency touched an intraday low of $3.820 before retracing. Technical analysis of the daily LTC-USD price chart and the action in the Bitcoin market compel me to be only cautiously optimistic on Litecoin. Litecoin....
Key Highlights. The Litecoin price declined heavily this past week and traded close to $3.55 where it found support. There was a pennant pattern formed on the hourly chart, which was broken to open the doors for an upside move. There is a major barrier on the upside around $4-4.20 where buyers may find it tough to retain traction. Litecoin price after declining, found support and currently forming a consolidation pattern that might set it for an upside move. Buying Favored. As clearly seen in the chart attached there is a critical break noted above the pennant formed on the hourly. The....