THELOGICALINDIAN - Litecoin is accumulation over its supports but burden is heavy
Litecoin / USD Short-term amount analysis
Litecoin has a aloof concise trading outlook, with the LTC / USD brace accumulation about its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy is assuming that the LTC / USD brace has chock-full creating bullish college highs, abrogation the cryptocurrency accessible to added downside.
Technical indicators on the four-hour time anatomy are currently aloof and falling to accommodate a bright trading signal.
Pattern Watch
Traders should agenda that a bearish arch and amateur arrangement has now formed on the four-hour time frame.
Relative Strength Index
The Relative Strength indicator on the four-hour time anatomy is additionally aloof and declining to accommodate a absolute trading signal.
MACD Indicator
The MACD indicator on the four-hour time anatomy is aloof and declining to accomplish a bright trading signal.
Litecoin / USD Medium-term amount analysis
Litecoin still has a bullish medium-term trading bias, with the cryptocurrency captivation amount aloft key abstruse abutment on the circadian time frame.
The circadian time anatomy continues to appearance that medium-term beasts accept the upperhand, with the LTC / USD brace still creating important college highs and college lows.
Key abstruse abutment for the LTC / USD brace is currently begin at the $110.00 and $98.00 levels.
Technical indicators are affective lower and attempting to about-face bearish on the circadian time frame.
Pattern Watch
Traders should be on bouncer for a abeyant double-top arrangement accumulation on the circadian time frame.
Relative Strength Index
The Relative Strength indicator on the circadian time anatomy is axis lower and is currently breeding a bearish trading signal.
MACD Indicator
The MACD indicator is starting to about-face bearish on the circadian time frame, with both the MACD arresting band and histogram axis lower.
Conclusion
Litecoin could alpha to appear beneath affairs burden on the circadian time anatomy if beasts abort to actualize a beginning amount aerial over the advancing trading sessions.
The bearish arrangement on the four-hour time anatomy advance that a abiding aperture of the $110.00 akin may activate a concise sell-off in the LTC / USD brace appear the $84.00 abutment level.
Check out our coin guide for an addition to Litecoin.
We additionally wrote a DARE for the project, allegory the approaching affairs of the Bitcoin competitor.
