Key Highlights Litecoin price moved lower once again and tested the $3.0 handle as forecasted in yesterday’s post. There was a bearish trend line formed on the formed on the 30-min chart (data feed via Bitfinex), which acted as a sell area and ignited a downside move. A descending channel pattern formed on the 2-hours chart with data feed from HitBTC as highlighted yesterday is still in play. Litecoin price struggled to move higher Intraday. There was a downside reaction, taking the price towards our sell target of $3.0. Sell More? Litecoin price moved a few points higher yesterday to trade near a bearish trend line formed on the 30-min chart (data feed via Bitfinex). I highlighted that we can plan on entering a sell trade near the highlighted trend line and…
Key Highlights Litecoin price moved a few points higher Intraday and it looks like it is forming a breakout pattern. There is likely an inverse head and shoulders pattern forming on the 30-min chart (data feed via Bitfinex), which if shapes well may take the price higher. The price yesterday managed to break a descending channel pattern formed on the 2-hours chart to clear the way for more gains. Litecoin price if stays positive may trade higher. There is an inverse head and shoulders pattern in making that can ignite an upside rally. Buy with a break? Litecoin price is showing a few positive signs on the lower as well as on the higher time frame charts. The price yesterday attempted on a couple of occasions to clear a bearish trend line formed on the 30-min…
Key Highlights Litecoin price broke down once again, and currently struggling to recover some ground. There is a monster barrier formed on 2-hours chart with data feed from HitBTC in the form of 100 simple moving average. Moreover, there is a bearish trend line resistance formed on the 30-min chart (data feed via Bitfinex) that may be seen as a resistance area. The price. Litecoin price stayed down and traded lower. Every attempt by buyers to take the price higher failed as sellers enjoyed an upper hand. Sell Near Trend Line Resistance? Litecoin price after trading close to the $3.13 level on the 30-min chart (data feed via Bitfinex) failed and started to move down. The downside move was stalled near $3.02, as the all-important area of $3.00 came into the…
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…