Litecoin Price Key Highlights Litecoin price finally broke out of the ascending triangle consolidation pattern visible on its long-term charts, signaling that it’s ready for more gains. Price broke above the triangle resistance and could keep heading further north. Litecoin price exhibited a strong bullish run, as it made a convincing break above a tight long-term consolidation pattern. How High Can It Go? Although the buying pressure was pretty strong, litecoin price seems to have lost some momentum upon hitting resistance at the 4.00 level, as this lines up with a previous area of interest. The 100 SMA has yet to cement its upward crossover above the 200 SMA to confirm that the rally has legs. Meanwhile, stochastic and RSI are both indicating overbought…
Litecoin Price Key Highlights Litcoin price has been in a strong downtrend against bitcoin, as price has been trading below a falling trend line and has just broken below a short-term consolidation pattern. Price is currently testing the previous lows, gearing up for a bounce or perhaps another downside break. Litecoin price could be in for a correction from its recent selloff, as a bullish divergence can be seen from stochastic. Another Trend Line Test? Stochastic has been making higher lows while price recently made lower lows, creating a bullish divergence visible on the 4-hour chart. RSI has also formed higher lows and is on the move up, which suggests that buyers could be in control for now. If litecoin price is able to pull up from its recent dive, it could…
Litecoin Price Key Highlights Litecoin price is consolidating tightly on its 1-hour time frame, finding resistance at 3.320 and testing support at 3.215. Further consolidation might be likely, as technical indicators are barely offering strong directional clues at the moment. A downside break from the current range of litecoin price could lead to a move down to the next floor at 3.150. Two Ranges Present Litecoin price appears to be pressing down on the bottom of the range, as it has formed lower highs since late last week. This suggests that bearish momentum is building up and sellers are getting ready for a downside break. If that happens, price could move to the next support at the 3.150 area and turn the broken support at 3.215 into resistance. From there,…
Litecoin is accumulating more gains, pushing the price up by 3.39 percent to $3.050. Significantly higher gains can come to Litecoin, helped majorly by Bitcoin in the future sessions. But today, let us focus on what the technical indicators and the price action are suggesting. Image: https://www.tradingview.com/x/yckOLz1g/ Litecoin Chart Structure – With the above-stated gains, Litecoin has taken a step closer to the downward sloping Resistance (marked in the chart above), which as of today, comes in at around $3.400. Moving Average – Another factor which will pressurize Litecoin as it heads upwards is the 30-day simple moving average of $3.2580. Therefore, the region between $3.250 and $3.400 can act as the resistance zone for the cryptocurrency. Moving Average…
Litecoin Price Key Highlights Litecoin price is currently stuck inside a rising wedge pattern on its 4-hour chart, indicating a slight trend higher with a bit of consolidation. Price found resistance at the area of interest around the middle of the wedge and went for a test of support. Litecoin price bounced off the wedge support and may be in for a stronger climb up to the resistance at $3.400. Potential Breakout Soon For now, the 100 SMA is above the 200 SMA, which suggests that the uptrend could carry on. However, stochastic and RSI are both heading down from the overbought zone, reflecting a buildup in bearish pressure. A downside break below the 200 SMA and wedge support at $3.100-3.150 could signal that further losses are in the cards, potentially taking…