THELOGICALINDIAN - Litecoin is acclimation shortterm while befitting a stronger longterm outlook
Litecoin / USD Short-term amount analysis
Litecoin still has a bullish concise trading outlook, with the LTC / USD brace continuing to barter aloft its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy is assuming that the LTC / USD brace is now testing aback appear the neckline of a bullish astern arch and amateur pattern. Critical abutment on the four-hour time anatomy is now begin at the $92.00 and $84.40 levels.
Technical indicators on the four-hour time anatomy accept angry bullish and abide to affair able advertise signals.
Pattern Watch
Traders should agenda that a bearish double-top arrangement has now formed on the four-hour time frame.
Relative Strength Index
The Relative Strength indicator is bearish on the four-hour time frame, although it has now accomplished oversold territory.
MACD Indicator
The MACD indicator has angry bearish on the four-hour time anatomy and is still arising a advertise signal.
Litecoin / USD Medium-term amount analysis
Litecoin has a bullish medium-term trading outlook, with the cryptocurrency still trading able-bodied aloft its 200-day affective average.
The circadian time anatomy continues to appearance that a bullish abstruse blemish is still underway, admitting the contempo move lower. Key abstruse abutment on the mentioned time anatomy is now begin at the $100.00 and $94.00 levels.
Technical indicators are affective lower and attempting to about-face bearish on the circadian time frame.
Pattern Watch
Traders should agenda that a bearish blemish beneath the $100.00 abutment akin is acceptable to access abstruse selling.
Relative Strength Index
The Relative Strength indicator on the circadian time anatomy is fast abutting aloof levels.
MACD Indicator
The MACD indicator is starting to about-face bearish on the circadian time frame, with the MACD arresting band and histogram both axis lower.
Conclusion
Litecoin is ability a able abstruse alteration lower afterwards a bearish double-top arrangement formed beyond the four-hour time frame.
The circadian anatomy continues to appearance a accurate bullish blemish underway, although traders should be on bouncer for added weakness in the LTC / USD brace if the $100.00 abutment akin is assuredly breached.
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.
