Key Highlights Litecoin price failed to trade higher and broke a short-term triangle pattern on the 30-min chart via the data feed from Bitfinex. The price after the break retested broken support area, which acted as a resistance and stalled gains. There is another significant breakout pattern in formation if we look at the 2-hours chart with the data feed from HitBTC. Litecoin price struggle to gain traction continued, and as a result there was a downside reaction taking the price below a short-term support area. Price to Continue Trading Lower? Litecoin price yesterday struggled to break a contracting triangle pattern formed on the 30-min chart via the data feed from Bitfinex. Our idea of a short-term buy did not work out, as the price never managed to settle…
Key Highlights Litecoin price is facing a crucial resistance around the $3.55-60 area where sellers defended the upside more than five times. There is a major bearish trend line formed on the hourly chart with data feed from HitBTC, which is acting as a barrier for more gains. The price is now below the 100 simple moving average (H1), which another bearish sign. Litecoin price continuously failed to trade above the $3.50-60 resistance area, suggesting that sellers are in control and may take it lower moving ahead. Sell Near $3.55-60? Litecoin’s price after trading as low as $3.46 managed to recover from losses, and corrected higher. However, there is a monster barrier formed near $3.55-60 for buyers, which is acting as a hurdle and preventing more gains….
Key Highlights Litecoin price continued to struggle to clear the 100 simple moving average on the 2-hours chart (data feed from HitBTC). However, there are a few positive signs noted on the 30-min chart (data feed from Bitfinex), as there is an ascending channel formed. The price may trade a few points higher, as it is above the 100 MA (30-min chart). Litecoin price struggle continues, but there are bullish signs emerging on the lower timeframe, which can be considered as an indicator of a move higher. Ascending Channel as Catalyst We highlighted a major hurdle for Litecoin price yesterday in the form of the 100 simple moving average on the 2-hours chart (data feed from HitBTC). It continued to stall gains and prevent the upside move. However, when we look at the…
Key Highlights Litecoin price is having a tough time in breaking a major trend line resistance area as highlighted in yesterday’s post. The 100 simple moving average on the 2-hours chart (data feed from HitBTC) is acting as a barrier for buyers. Only a break above $3.55 may call for more gains in the short term. Litecoin price tested a major confluence resistance area and failed to break it. If buyers continue to struggle, there is a chance of a downside move. A Break Possible? Litecoin price moved a few points higher to trade near the 100 simple moving average on the 2-hours chart (data feed from HitBTC). However, sellers defended the 100 MA successfully and prevented the upside move. There were more than two attempts to break it, but buyers failed to take the…
Litecoin Price Key Highlights Litecoin price continued to gain bids and traded higher above a major resistance area of $3.60. An initial buy target was achieved, as our buying idea worked well. Moving ahead, we may consider buying dips as there are a lot of bullish signs emerging on the hourly chart (data feed from HitBTC). Litecoin price surged higher and traded above a major hurdle, which means there is a possibility of more gains in the near term. Buy Dips? Litecoin price continued to move higher and currently showing a lot of positive signs. As highlighted in yesterday’s post, we were looking to buy Litecoins. The idea worked well, as the price traded higher. The best part was the fact that the price also settled above a major resistance area of $3.60. It…