Litecoin Price Key Highlights Litecoin price is still sitting at the bottom of the rising wedge but could be in for a pickup in bullish pressure soon. Support at the 200 SMA has kept losses in check and might continue to do so. Litecoin price might be aiming for the top of the wedge near the 3.400 mark, pending a pickup in upside momentum. Next Barrier at 100 SMA The 100 SMA appears to be holding as resistance for the time being, although it is still above the longer-term 200 SMA so the uptrend could stay intact. In addition, litecoin price is also stalling around a former short-term support zone, which might contain a few sell orders. Breaking past that area could take litecoin price up to the top of the wedge but if it continues to hold as resistance, sellers…
Litecoin Price Key Highlights Litecoin price has been gradually trending higher against the U.S. dollar, mostly due to the latter’s selloff in recent trading sessions. Price is currently testing the bottom of the ascending channel visible on its short-term time frame and might be due for a bounce. Litecoin price is on a steady uptrend these days and could be in for a much stronger bounce, as it is testing the rising channel support. Bullish divergence forming Litecoin price has been forming higher lows while technical indicators drew lower lows, creating bullish divergence for both RSI and stochastic. The 100 SMA is above the 200 SMA, confirming that the uptrend is likely to carry on. In addition, the moving averages are edging further apart, which suggests…
Litecoin is trading on a flat-to-negative basis at $3.042 after amassing hefty gains in the previous sessions. The cryptocurrency has hit a roadblock near the earlier lows and is facing resistance from them. Taking a look at the daily LTC-USD price chart below, it can be said that if Litecoin fails to head above this resistance soon, then it runs the risk of being trapped in another range. Image: https://www.tradingview.com/x/FOH13NBy/ Litecoin Chart Structure – Upon a closer look at the above chart, market participants will find that the previous lows marked as 1 and 2 are limiting the gains for Litecoin now. The Support for Litecoin is the twice-tested level of $2.500. If either the bulls or the bears fail to snatch away the game from the other, then another…
Yes, that is the advice I have for market participants involved in Litecoin trading. Litecoin is currently at a juncture where if it begins its upward climb, it can give high returns; but if it falls, then there is a roughly 25 percent downside. Remember my September price target – $2.000? Trading at $2.790, Litecoin is trying to limit its losses, however, it cannot help much since the Bitcoin markets are under tremendous pressure. Bitcoin is now at $230, but if it closes below $220 on a weekly basis, then a major collapse will ensue which will adversely affect Litecoin as well. Image: https://www.tradingview.com/x/8wzVW4XL/ Below are the latest technical considerations taken from the daily LTC-USD price chart, and to be fair, they only present a mixed,…
The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level. Litecoin is currently trading at $3.110. Image: https://www.tradingview.com/x/00yOP6jY/ Technically, Litecoin remains on a very strong footing but it runs a major risk as well – the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity. Litecoin Chart Structure – After a strong breakout from the trendline connecting the previous two peaks, Litecoin is aiming for huge gains. As can be seen from…