THELOGICALINDIAN - n-a
After basic a near-term abject abreast $3.820, Litecoin has registered a abiding acceleration of 1.48% back yesterday. Litecoin is currently trading at $4.100 and has outperformed Bitcoin which has beneath to a make or break juncture.
Speculations are active abounding that Greeks are axis to cryptocurrencies in the deathwatch of advancing crisis, but if the bodies vote to break in the Eurozone with acerbity measures, I am assured this new begin applesauce to end abruptly.
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Technical indicators laid over the 240-minute LTC-USD amount blueprint point to a favorable book for the bulls.
Litecoin Chart Structure – Litecoin can be apparent amphibian aloft $4.000 backed by unrealistic bullish expectations. The cryptocurrency is accepted to face attrition abreast $4.270-4.250.
Moving Average Convergence Divergence – On a bearish note, MACD fails to billow aloft the Signal Line alike as the amount rises. The latest MACD and Signal Line ethics are 0.1840 and 0.2142. The Histogram charcoal depressed with a amount of -0.0302.
Momentum – That beasts are continuously authoritative attempts at advancement their bastion can be apparent from the absolute drive reading. The latest Drive indicator amount is 0.1450.
Relative Strength Index – Another arresting accomplishment for the beasts is consistently advancement the RSI amount aloft 60 for 4 beeline sessions this week. Even presently, the RSI account is 63.3208, which indicates that beasts are aloof apprehension a activate to drag the amount decidedly higher.
Conclusion
2 out of 3 discussed abstruse indicators point to a able bullish undertone. The blueprint anatomy additionally says that Litecoin is advancing to claiming the resistance.
My advice: Since annihilation has fundamentally afflicted for Litecoin, it does not accreditation these acrimonious levels. I am assured Litecoin to abide a massive cut column the Greek election this Sunday. Do not resort to actuation trading and sit out this week. Only advancing traders should body ablaze continued positions with a stop-loss beneath $3.820.
