Litecoin Fails To Break Key Resistance Level Again – Can Bulls Hold Range Lows?
Litecoin has faced a massive drop as the entire crypto market experiences intense selling pressure. Increased volatility has driven sharp price swings, with LTC plunging from $130 to $100 in a matter of hours. This steep decline has raised concerns among investors as Litecoin struggles to maintain key support levels. Related Reading: Dogecoin Breaks Above Falling Wedge Pattern – Analyst Sets $0.43 Target Market uncertainty has left Litecoin trading at a crucial level, with bulls trying to defend $100 amid persistent selling pressure. The failure to hold above higher price ranges suggests a....
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In the previous Litecoin price technical analysis Flat Action, we discussed that if Litecoin fails to cross the resistance posed by the level of $3.160, it runs the risk of entering into a range. As can be seen, Litecoin has plummeted 4.44 percent to $2.907 as traders resorted to profit taking near the resistance. Another factor weighing on Litecoin is the weakness in the Bitcoin market. However, the good news is that Bitcoin is now close to its support level of $235. Values from the technical indicators overlaid on the daily LTC-USD price chart also suggest that there is an increased....
Litecoin is trading on a flat-to-negative basis at $3.042 after amassing hefty gains in the previous sessions. The cryptocurrency has hit a roadblock near the earlier lows and is facing resistance from them. Taking a look at the daily LTC-USD price chart below, it can be said that if Litecoin fails to head above this resistance soon, then it runs the risk of being trapped in another range. Litecoin Chart Structure - Upon a closer look at the above chart, market participants will find that the previous lows marked as 1 and 2 are limiting the gains for Litecoin now. The Support for Litecoin....
In yesterday's analysis entitled Bulls Rise, Challenge Resistances, I mentioned that Litecoin was challenging a key resistance level of $1.865. As of today, the cryptocurrency has failed to edge above this level and has come down to $1.852 as minor profit booking is witnessed. Below has been presented the technical considerations which traders must take into account before making fresh trades or deciding on existing ones. A 240-minute LTC/USD price chart has been used to serve the purpose. Litecoin Chart Structure - Since Litecoin is trading near the upper range of the band and refuses to....
Litecoin bulls have clawed their way back in as price leapfrogs from $1.98 to $2.06. There may be more good news in store for the investors as several technical indicators and a bullish price chart formation point to a surge in the Litecoin prices. But, for the investors' wealth to soar, Litecoin will have to cross one major hurdle: closing above $2.08. A comprehensive technical analysis on the Litecoin/Dollar 240-minute price chart taken from www.tradingview.com prominently favors the bulls. Price Structure - The price structure in the past one week has represented sideways consolidation;....
Litecoin has formed a short-term base around $1.440 and is consistently striving to re-enter the previous trading band of $1.449-1.459. In the past 24 hours, the virtual currency has jumped up to $1.459 - the resistance level - before being brought down to the floor value of the previous trading range. Litecoin is trading at $1.452, up 0.76% from yesterday's observation of $1.441. I had discussed in my previous analysis that Litecoin will reach the level of $1.455, at which market participants may initiate short positions by placing a stop-loss above $1.459. Litecoin has been unable to....