{"id":12625,"date":"2015-02-16T03:15:18","date_gmt":"2015-02-16T08:15:18","guid":{"rendered":"https:\/\/wncen.com\/?p=12625"},"modified":"2019-09-30T16:02:45","modified_gmt":"2019-09-30T16:02:45","slug":"litecoin-price-technical-analysis-1622015-catching","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin-price-technical-analysis-1622015-catching\/","title":{"rendered":"Litecoin Price Technical Analysis for 16\/2\/2015 \u2013 Catching Up!"},"content":{"rendered":"
Starting from today, I will be posting a daily litecoin price technical analysis, so I guess it’s better to establish key resistance and support levels that will be a base for our future analyses during the upcoming couple of weeks.<\/em> <\/a> Today’s litecoin price drop seems to be ignited by the decline in bitcoin price. It seems that we will have to wait for at least 24 hours before we can see a reverse in this downtrend.<\/p>\n <\/p>\n Charts from Bitfinex<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Starting from today, I will be posting a daily litecoin price technical analysis, so I guess it’s better to establish key resistance and support levels that will be a base for our future analyses during the upcoming couple of weeks. Litecoin price increased to score a high of $2.04 yesterday, before dropping to a low of $1.79. By examining the 1 hour (LTC\/USD) and (BTC\/USD) charts, we can clearly see that litecoin price is mirroring what is happening on the bitcoin charts. By studying the 1 day Bitfinex (LTC\/USD) chart from tradingview.com and plotting the Fibonacci retracement fan along a trend line that extends between the high reached on the 13th of November ($4.36) and the low reached on the 14th of January ($1.09) (look at the below chart), we can better evaluate resistance and support levels. The price is now trading at a price below the 20 day EMA. Litecoin price is now touching the 50% Fibonacci resistance fan level, so if it increases above 1.85, we can see it increase to $2.00 within about 24 hours. According to the Fibonacci retracements we plotted, we can notice that the next resistance level will be at $2.35 which coincides with the 62% retracement level. By studying the litceoin 4 hour Bitfinex (BTC\/USD) charts from tradingview.com and plotting the William’s Alligator indicator accordingly, we can see that the litecoin price is facing support at around $1.9 which is expected to prevent a further drop. William’s Alligator alignment of moving averages is not in favor of a reverse in the downtrend, so we expect to see a different alignment of these moving averages before an uptrend can be noticeable. Conclusion: Today’s litecoin price drop seems to be ignited by the decline in bitcoin price. It seems that we will have to wait for at least 24 hours before we can see a reverse in this downtrend. Charts from Bitfinex<\/p>\n","protected":false},"author":516,"featured_media":12629,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,4],"tags":[2773,2785,2793,14],"class_list":["post-12625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-analysis","tag-litecoin-analysis","tag-litecoin-price","tag-litecoin-technical-analysis","tag-other"],"acf":[],"yoast_head":"\n
\nLitecoin price increased to score a high of $2.04 yesterday, before dropping to a low of $1.79. By examining the 1 hour (LTC\/USD) and (BTC\/USD) charts, we can clearly see that litecoin price is mirroring what is happening on the bitcoin charts<\/a>.
\nBy studying the 1 day Bitfinex (LTC\/USD) chart from tradingview.com<\/a> and plotting the Fibonacci retracement fan along a trend line that extends between the high reached on the 13th of November ($4.36) and the low reached on the 14th of January ($1.09) (look at the below chart), we can better evaluate resistance and support levels. The price is now trading at a price below the 20 day EMA. Litecoin price is now touching the 50% Fibonacci resistance fan level, so if it increases above 1.85, we can see it increase to $2.00 within about 24 hours. According to the Fibonacci retracements we plotted, we can notice that the next resistance level will be at $2.35 which coincides with the 62% retracement level.<\/p>\n
\nBy studying the litceoin 4 hour Bitfinex (BTC\/USD) charts from tradingview.com and plotting the William’s Alligator indicator accordingly, we can see that the litecoin price is facing support at around $1.9 which is expected to prevent a further drop. William’s Alligator alignment of moving averages is not in favor of a reverse in the downtrend, so we expect to see a different alignment of these moving averages before an uptrend can be noticeable.<\/p>\n<\/a><\/h2>\n
Conclusion:<\/h2>\n