THELOGICALINDIAN - Litecoin will abide with its bearish alteration afterwards it accomplished its accomplished akin of the year
LTC / USD Short-term amount analysis
Litecoin has a aloof trading bent over the short-term, with the LTC / USD brace now testing aback appear its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy is currently assuming a amateur top arrangement formation, with the bearish arrangement belief on concise trading sentiment.
Technical indicators on the four-hour time anatomy are bearish and abide to arresting added losses.
Pattern Watch
Traders should agenda that a baby arch and amateur arrangement can additionally be apparent on the four-hour time anatomy with a $10.00 downside projection.
Relative Strength Index
The Relative Strength Index has angry bearish on the four-hour time frame, although it has now accomplished oversold conditions.
MACD Indicator
The MACD indicator has angry bearish, with the MACD arresting band and histogram both arising advertise signals.
LTC / USD Medium-term amount analysis
Litecoin has a bullish angle over the medium-term, with the cryptocurrency still trading able-bodied aloft its trend defining 200-day affective average.
The circadian time anatomy is assuming that the LTC / USD brace is acclimation lower afterwards beasts bootless to move amount aloft the neckline of the ample astern arch and amateur pattern.
Technical indicators on the circadian time anatomy are currently acclimation from acutely overbought conditions.
LTC / USD Daily Chart by TradingView
Pattern Watch
Traders should agenda that the astern arch and amateur arrangement on the circadian time anatomy will abide accurate if the LTC / USD brace trades aloft the $40.00 level.
Relative Strength Index
The Relative Strength indicator has angry bearish on the circadian time anatomy and is signaling added downside.
MACD Indicator
The MACD indicator has angry bearish on the circadian time frame, with both the MACD arresting band and histogram both arising advertise signals.
Conclusion
Litecoin is still ability a abstruse alteration lower afterward its aboriginal ages beforehand appear the $98.00 level.
The bearish arrangement on the four-hour time anatomy suggests added downside in the LTC / USD brace is possible, while the ample astern arch and amateur arrangement on the circadian time anatomy is still pointing to added upside over the medium-term.
We’ve appear a coin guide on Charlie Lee’s Litecoin project.
A added dive into Litecoin is available in our DARE.
