THELOGICALINDIAN - LTC shows signs of accretion as it looks to bounce
Litecoin / USD Short-term amount analysis
Litecoin has a bearish concise bias, with the LTC / USD brace still in a bearish blemish approach over the lower time frames.
The four-hour time anatomy is assuming that LTC / USD brace is now testing aback appear the neckline of the bearish arch and amateur pattern, afterward a aciculate changeabout from aloof beneath the $80.00 level.
Key abstruse attrition aloft the neckline of the bearish arrangement is amid at the $107.00 and $120.00 levels.
Technical indicators on the four-hour time anatomy are attempting to actual from acute oversold conditions.
Pattern Watch
Traders should agenda that the bearish arch and amateur arrangement has yet to ability its all-embracing downside ambition of $60.00.
Relative Strength Index
The Relative Strength Index on the four-hour time anatomy has angry bullish and is starting to affair a buy signal.
MACD Indicator
The MACD indicator is bullish on the four-hour time anatomy and continues to accomplish a buy signal.
Litecoin / USD Medium-term amount analysis
Litecoin has a bullish medium-term trading bias, with the cryptocurrency captivation amount aloft its trend defining 200-period affective average.
The circadian time anatomy shows that a able abstruse changeabout from analytical abutment has occurred, with the LTC / USD convalescent aback appear the antecedent bearish blemish zone.
Key abstruse abutment for the LTC / USD brace is currently begin at the $74.00 and $60.00 levels.
Technical indicators on the circadian time anatomy are attempting to move abroad from acute oversold conditions.
Pattern Watch
Traders should agenda that the bearish arch and amateur arrangement charcoal technically accurate on the circadian time frame.
Relative Strength Index
The Relative Strength Index on the circadian time anatomy is bearish and is additionally attempting to move abroad from acute oversold territory.
MACD Indicator
The MACD indicator is bearish on the circadian time frame, although it is attempting to actual from oversold conditions.
Conclusion
Litecoin has staged a solid upside recovery, afterward the much-awaited bearish advance appear the LTC / USD pair’s key 200-day affective average.
The $100.00 to $80.00 amount ambit is analytical over the advancing sessions and will ultimately adjudge whether the cryptocurrency continues to balance or avalanche aback appear the $60.00 level.
Check out our bread guide for an addition to Litecoin.
We additionally wrote a DARE for the project, allegory the approaching affairs of the Bitcoin competitor.
