THELOGICALINDIAN - Litecoin amount is abutting a monster barrier at 355 area there is a adventitious of sellers actualization and preventing any added gains
Litecoin amount afterwards trading aback lower begin abutment abreast $3.35-40, and currently acclimation higher. However, the amount is branch appear a monster assemblage attrition area. The 100 alternate simple affective average, a bearish trend band (data augment from Bitfinex) and the 50% Fib retracement akin of the aftermost bead from the $3.68 aerial to $3.37 low are positioned about $3.55.
So, we can say that there is a acute hurdle architecture abreast $3.55-60 area sellers are acceptable to appear. The 100 MA is altogether accumbent to arrest assets in the abbreviate appellation and anticipate buyers from demography the amount higher. Only a breach and abutting aloft the 100 MA may accessible the doors for a move aback appear the aftermost beat aerial of $3.68. Otherwise, as continued as the amount is beneath 100 MA, we ability accede affairs about $3.55.
We can attestant added bearish signs attractive at the 2-hours blueprint (data augment from HitBTC). The 100 MA (2-hours) is additionally positioned aloof about $3.60, which adds to the amount of accent trend band and attrition area.
Hourly MACD – The alternate MACD is in the bullish zone, which is a bullish sign.
Hourly RSI – The RSI is aloft the 50 level, pointing that buyers are in ascendancy as of now and may attack to booty the amount aloft 100 MA (hourly).
Intraday Support Level – $3.45
Intraday Resistance Level – $3.55
Charts from Bitfinex and HitBTC; hosted by Trading View
