THELOGICALINDIAN - The brace angry actually bearish in the abbreviate appellation but the circadian time anatomy suggests this is aloof a correction
LTC / USD Short-term amount analysis
LTC has a bearish concise trading bias, with the LTC / USD brace now creating bearish lower lows and trading below its 200-period affective boilerplate on the four-hour time frame.
The bearish double-top arrangement accumulation on the four-hour time anatomy continues to counterbalance on concise trading affect with the LTC / USD brace so far award acting abutment from the $68.00 level.
The four-hour time anatomy shows that key accessible concise abutment is amid $60.00 and $54.00 levels.
Pattern Watch
Traders should agenda that a ample astern arch and amateur arrangement charcoal present beyond the four-hour time frame.
Relative Strength Index
The Relative Strength Index is bearish on the four-hour time frame, although it is now attempting to balance from oversold conditions.
MACD Indicator
The MACD indicator is aloof on the four-hour time frame, with the MACD arresting band and histogram declining to accomplish a bright trading signal.
LTC / USD Medium-term amount analysis
LTC still has a bullish medium-term trading outlook, with the cryptocurrency trading able-bodied aloft its trend defining 200-day affective average.
The circadian time anatomy shows that the LTC / USD brace is retracing lower afterwards the contempo upside assemblage created a abundant beyond astern arch and amateur pattern.
Key abstruse abutment on the circadian time anatomy is currently amid at the alpha of the April bullish rally, about the $60.00 level, and the pair’s 200-day affective average, at $50.00.
Pattern Watch
Traders should abide to adviser the neckline of the bullish astern arch and amateur arrangement on the circadian time frame.
Relative Strength Index
The Relative Strength Index is bearish on the four-hour time frame, although it is now attempting to balance from oversold conditions.
MACD Indicator
The MACD indicator has angry bearish on the circadian time frame, with the MACD arresting band continuing to affair a advertise signal.
Conclusion
LTC is still beneath burden in the short-term, with the four-hour time anatomy highlighting that the near-term affect appear the LTC / USD brace is still bearish.
The circadian time anatomy is still assuming that the astern arch and amateur arrangement charcoal valid, while the $50.00 akin is the key downside breadth to watch over medium-term.
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