“Technically Flawless” Litecoin Could Lead To “Biblical” Bullish Move
Litecoin price is up nearly 10% in the last 24 hours, but the recovery might only have just begun. That is if a “technically flawless” chart pattern is valid, and resolves to the upside. The pattern has taken years to form, and it could result in a move of “biblical proportions.” Litecoin Forms Technically Flawless […]
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Key Highlights. Litecoin price continued to stay above a major support area of $3.0 and looks set to challenge $3.20-30. There is a bullish trend line formed on the 4-hours chart of the Litecoin price, acting as a support area. Litecoin price attempt to trade higher was successful, as it moved above a major pivot of $3.20 this past week. $3.20 as Pivot. The Litecoin price after trading a touch above a major level of $3.20 started a correction. The price corrected as low as $3.00 where buyers appeared to prevent downsides and pushed the price higher. There is a bullish trend line formed on....
Litecoin has advanced following the lead of Bitcoin in the anticipation of a solution to the Greek crisis. While Bitcoin has staged a breakout, Litecoin's upside potential remains capped by a resistance line. Litecoin is currently trading up 0.97% at $3.019. I had mentioned in my previous analysis that Litecoin should be shorted if the price rose to $3.020, and I reiterate that short positions should be built by placing a stop-loss (closing basis) above $3.050. Technical analysis implemented on the 240-minute LTC-USD price chart indicates that the market is awaiting a trigger to make a big....
Litecoin price climbed higher this past week and showed a lot of bullish signs. It looks like buying dips idea may work in the near term. Intraday Support Level can be $3.33. Intraday Resistance Level may be $3.45. Litecoin price after trading near the $3.00 support area for a long time formed a base and started to move higher. The upside move was very strong, as the price cleared 100 simple moving average on the 4-hours chart (data feed via Bitfinex), and tested the $3.45-50 area. The last couple of H4 candles are very bullish, and pointing towards the fact that buyers are in control.
In today’s episode of NewsBTC’s daily technical analysis videos we are examining Litecoin after a 10% intraday move to see if it will turn into a broader crypto market rally. Take a look at the video below: VIDEO: Litecoin Price Analysis (LTCUSD): November 2, 2022 Litecoin has been an altcoin that once regularly led the start of new crypto market bull runs. We are looking to find out if LTC will once again lead the way. Related Reading: Bitcoin And The Dollar Reach Inverse Inflection Points | BTCUSD November 1, 2022 Weekly LTCUSD Chart Shows Tightest Bollinger Bands In....
The Litecoin price has dropped around 0.5% against the USD in over the last 24 hours. After the surprising bullish rally in Bitcoin charts, the Litecoin as usually tailed the upsurge and eventually established new higher highs, one crossing above the presumed resistance level near 2.00. However, the market soon faced a little downside pressure as traders exited their positions for short-term profits. Nevertheless, the overall bullish bias continued to exist. As you can clearly see in the 4H BTC-e chart above, the Litecoin price is clearly way too above the 50-H MA, while the RSI is at 65 -....