THELOGICALINDIAN - If there was a antagonism appropriate now amid our admired hero Superman and the cryptocurrency Litecoin I anticipate alike our iconic hero would say for already Okay lets bolt a break
Litecoin is breaking all the apprehensible boundaries, accepting jumped from $2 to added than $8 in aloof the accomplished 4 weeks. And with drive and trend actual candidly bullish, there is no adage what valuations we will see activity ahead.
Litecoin has jumped a massive, a astounding 31% in the accomplished 24 hours to leapfrog to $8.100.
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In today’s analysis, we are demography a abandonment from the accustomed accepted in a way that a account amount blueprint will be considered. While I was cerebration that Litecoin is extremely overvalued from a concise perspective, the account blueprint suggests that Litecoin is boilerplate abutting to actuality a safe bet alike from a medium-term point of appearance as well.
Litecoin Chart Structure – With massive assets in the accomplished 4 weeks, Litecoin has around asleep all the losses of the accomplished 52-weeks and looks all set to hit a new annual high.
Moving Average Convergence Divergence – On a account basis, MACD maintains its advance over the Signal Line. MACD has now risen to 0.3962 while Signal Line has acquired to -0.4331. The Histogram is absolute with a amount of 0.8294.
Momentum – The Momentum indicator has surged to a annual aerial of 6.6639.
Money Flow Index – It is not every day or alike every anniversary that you see the MFI amount aloft 90, which is advised outrageously overbought. However, Litecoin continues to calmly barter at an MFI amount of 94.4246.
Relative Strength Index – The account RSI indicator is additionally advertence awful overbought altitude with a amount of 83.3185.
Conclusion
The assemblage in Litecoin is one of a kind. The account abstruse indicators are in the awful overbought territory, but the drive and trend are artlessly too strong. Alone high-risk traders should access Litecoin now, but do so alone if you accept to!
