Key Highlights Litecoin price failed to trade higher and moved lower to justify our sell idea as shared in yesterday’s post. A bearish trend line formed on the hourly chart (data feed from Bitfinex) acted as a barrier and pushed the price down. The price moved lower towards the $3.50 where there is a chance of buyers taking a stand in the near term. Litecoin price moved a few points lower to fulfil our sell target, but it would be very hard to say that the price is in a bearish trend. $3.50 as a Support Area Litecoin price – after finding bids near the $3.50 support area – traded higher earlier, but yesterday sellers managed to take the price down. There was a bearish trend line on the hourly chart (data feed from Bitfinex), as highlighted in…
Key Highlights Litecoin price after correcting lower found support near $3.47 and currently moving back higher. There is a bearish trend line formed on the hourly chart (data feed from Bitfinex), which is likely to be tested in the short term. A major support on the downside can be seen on the 2-hours chart (data feed from HitBTC) in the form of a bullish trend line. Litecoin price may gain further, but buyers need to clear the highlighted trend line and resistance area on the hourly chart for a move towards $3.65. Can Buyers Make it? Litecoin price finally managed to find bids near a major support area of $3.50, as it represents a monster barrier for sellers. It acted as a support and resistance both on many occasions, and can be seen as a pivot point for the…
Key Highlights Litecoin price slowly moved higher Intraday and traded a few points higher to keep sellers in check. However, yesterday’s highlighted critical bearish trend line on the hourly chart with a data feed from HitBTC is still in play and acting as resistance. There is a contracting triangle forming on the 30-min chart via the data feed from Bitfinex, which may act as a catalyst for a break in the short term. Litecoin price slowly grinded higher during the past couple of sessions, and currently forming a breakout pattern for the next move. Short-term Buy? Litecoin price managed to gain a few bids Intraday as buyers stepped in to prevent any further losses. However, it is hard to say that the bearish pressure is over in the short term. There is a…
Key Highlights Litecoin price settled below the 100 hourly simple moving average via the data feed from Bitfinex, which is a sign of more declines in the short term. There is a contracting triangle pattern formed on the hourly chart, which is likely to be tested if the price falls from the current levels. Yesterday’s highlighted breakout pattern on the 2-hours chart with the data feed from HitBTC is at risk, as sellers are trying to break it. Litecoin price remains at a risk of a break down as sellers are attempting to clear a major support area on the 2-hours chart. Sell Rallies or with a Break? Our highlighted break for Litecoin price on the 30-min chart via the data feed from Bitfinex was true as the price continued to move down. The price even broke the $3.44…
Key Highlights Litecoin price finally managed to move higher and broke a major bearish trend line on the hourly chart (data feed from Bitfinex). The recent upside break looks critical, as the price managed to clear a couple of key resistance levels. The most important break was above the triangle pattern on the 2-hours chart (data feed from HitBTC), which was acting as a barrier for more gains. Litecoin price recent break was encouraging, and may lift the market sentiment to enable buyers to take it further higher in the near term. Buy Dips? Yesterday, there were a couple of attempts by sellers to take Litecoin price down, but they failed. As a result, buyers stepped in and took the price higher. The most important point was the fact that the price managed to…