Litecoin Could be Coiling up for a Massive Rally Despite Lackluster Price Action
Litecoin has been widely looked down upon by investors as an inferior version of Bitcoin with few distinguishable differences, little utility, and waning development activities. It is still one of the early cryptocurrencies that have ample liquidity and listings across all the major exchanges. As such, when floods of new investors enter the ecosystem, they […]
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Since last week, litecoin has developed a consolidation range roughly between 1.32 and 1.46. This week, price action has been quiet coiling around the 1.40 handle as we can see in the 1H chart. Litecoin (LTCUSD) 1H Chart April 22. Note that the 200-, 100-, and 50-hour SMAs all merged around 1.40. At the end of the April 22 session, ltcusd rallied with relatively higher volatility and volume. Meanwhile, the RSI has popped up above 60, which represents loss of the prevailing bearish momentum. The bounce off of the cluster of SMAs puts litecoin in a bullish outlook, first to test the 1.46....
Bitcoin has seen some relatively lackluster price action throughout the past few days and weeks, with the crypto’s price being unable to surge as it inches towards its $40k resistance This has come as its smaller counterparts all see massive momentum, with ETH seeing a monumental rally while many smaller altcoins also surge BTC’s lack of intense upside has come about due to the intense selling pressure it has been facing within the upper-$30,000 region, […]
Litecoin jumped 12% over the weekend to surge to a 4-month high of $2.100 as bulls decide to take full control of the situation. In my previous analysis, I had discussed that the market may end its consolidation soon and now that it has, I expect the action to continue for a little longer. As bulls take a breather, Litecoin is trading at $2.013. The massive rally in Litecoin must have taken a majority of market participants by surprise. But now, as the price looks to form a base above $2.000, minor profit booking cannot be ruled out. Litecoin Chart Structure - The 240-minute LTC/USD price....
Litecoin continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....
Litecoin goes against the general market sentiment with a 24.5% and 57% rally in the higher timeframes. At the time of writing, LTC trades at $316 with 4.8% profits in the daily chart. Anonymous trader Julio_LTC has set support for LTC at $280 with a price target set at $330. The operator is bullish as […]