Key Highlights Litecoin price fell sharply and broke a major support trend line formed on the 2-hours chart with data feed from HitBTC. An important support area at $3.50-60 was cleared, which may now act as a resistance if the price corrects higher. There are a lot of bearish signs, suggesting more losses in the near term. Litecoin price failed to move higher and traded lower. Now, since it has cleared the $3.50-60 support area selling rallies are preferred. Sell Rallies? Litecoin price was trading in a nice uptrend until sellers stepped in. We followed a crucial bullish trend line on the 2-hours chart with the data feed from HitBTC, which was broken recently to ignite a bear rally. The price traded lower and settled not only below the trend line support area,…
Key Highlights Litecoin price spiked higher Intraday and even managed to break a critical bearish trend line on the hourly chart (data feed from Bitfinex). Our buy with a break idea as highlighted in yesterday’s post worked well. More gains are likely moving ahead, as the price may head towards the last swing high of $3.85. Litecoin price traded higher and currently positioned in the bullish zone. Once again buying dips idea may play well in the short term. Continue Buying Dips? Litecoin price was facing a major barrier in the form of a bearish trend line on the hourly chart (data feed from Bitfinex). However, buyers managed to take the price above the highlighted trend line and resistance area. Moreover, the price also closed above the 100 hourly simple moving…
Litecoin Price Key Highlights Litecoin price struggling to gain momentum, and continued to probe an important bearish trend line on the hourly chart (data feed from Bitfinex). Only a break above the highlighted trend line and resistance area could ignite an upside move. On the positive side, there is a bullish trend line formed on the 2-hours chart (data feed from HitBTC), acting as a support. Litecoin price is showing bearish signs if we look at the lower time frame chart, but it is bullish if we look at the 2-hours chart. Buy with a Break? Litecoin price looks like struggling to gain traction and currently facing a tough barrier around a bearish trend line on the hourly chart (data feed from Bitfinex). Currently, the price is flirting with the 100 hourly simple…
Key Highlights Litecoin price continued to move higher Intraday, and our yesterday’s buying idea was successfully. Now, a bullish flag pattern is forming on the hourly chart (data feed from HitBTC), which may ignite another upside rally. A break above the flag resistance area could take the price higher towards $4.00-05 in the near term. Litecoin price is trading with a bullish bias, and there is another pattern forming which may help buyers to take it higher further. Break Higher? Litecoin price followed a nice uptrend on the 1-hour chart, and it looks like there is more upside left moving ahead. Currently, a flag pattern is forming on the hourly chart (data feed from HitBTC), which is most likely a bull flag. If buyers succeed in breaking the highlighted flag…
Key Highlights Litecoin price surged higher and even managed to break an important resistance area of $3.50-60. A perfect break can be easily noticed on the hourly chart (data feed from HitBTC) with support now at $3.60. Buying dips may be a good idea in the short term, as the broken resistance area could act as a support moving ahead. Litecoin price traded higher intraday, and our yesterday’s idea of buying with a break played well. Now we can look to buy dips in the short term. Buy Dips? Litecoin price is currently trading in an uptrend on 1-hour chart, as there was a critical break that ignited a rally. A contracting consolidation pattern was formed, which was cleared by buyers to take the price higher. From a purely technical perspective, traders can…