Key Highlights Litecoin price previously broke below a rising trend line support, indicating that a reversal from the recent climb is underway and that further losses are likely. Price showed follow-through with its bearish move, although a retracement to the broken support zone might still be possible later on. Litecoin price is still being dragged lower by sellers, as the selloff hasn’t looked back since its breakdown from the rising trend line on the 4-hour time frame. Technical signals show exhaustion The selloff might be losing steam, as technical indicators like stochastic and RSI are nearing overdone levels. Stochastic is actually in the oversold region already but hasn’t turned higher, which suggests that there’s still a bit of bearish…
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Image: https://www.tradingview.com/x/1PqDmnd0/ Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a…
It is very uncommon to see that when Bitcoin rises by 2 percent, Litecoin would rise by a lesser magnitude. What is even rarer is to see Litecoin fall when Bitcoin market hits a new peak almost every day. And now is one such case. Litecoin is currently trading at $3.090, down 1.31 percent as bulls fail terribly at using the positive momentum to cross the resistance. I had expected a big surge in Litecoin if Bitcoin were to break past $250. I am left very disappointed. Image: https://www.tradingview.com/x/zakSJjDe/ But, even so, let us take a look at the latest underlying technicals. Litecoin Chart Structure – As can be clearly seen from the chart above, Litecoin meets resistance and eventually, falls to the floor of the trading range. Now that the trading range…
Litecoin bulls are taking another shot at breaching the resistance after a session of profit booking. The resurgent bulls are driving their confidence from the rising Bitcoin market, which just topped $250 for the first time since August 19. Litecoin is currently trading at $3.131, up 1.82 percent. Image: https://www.tradingview.com/x/SciPH75o/ Even though Litecoin is holding its ground well, I am a bit unconvinced regarding the bullish undertone. So yes, I am only cautiously optimistic on Litecoin. Litecoin Chart Structure – Litecoin remains afloat and upbeat, pushing itself against the overhead barrier repeatedly. The 9-day SMA overlaid on the daily LTC-USD price chart above is doing a great job as the primary support. The current 9-day SMA is $3.0836. Moving…
Litecoin falls 1.47 percent to $3.075 after kissing the resistance at $3.130. In the previous Litecoin price technical analysis, we said that Litecoin could leapfrog to higher levels on consistent support from the buyers, but what we have got instead is a bout of profit booking which once pulled down the price to an intraday low of $3.050. Image: https://www.tradingview.com/x/kI4g5cqL/ But can this decline prove fatal to Litecoin? Will the crucial support of $3.000 be breached? Let us try to find that out by conducting a technical analysis on the daily LTC-USD price chart. Litecoin Chart Structure – As can be seen, the higher top, higher bottom chart structure still holds for Litecoin. The 9-day SMA has been supporting the cryptocurrency for a considerable time…