THELOGICALINDIAN - Litecoin has jumped addition 12 back bygone abacus to its surreal assets and bloodthirsty the bears In my antecedent assay I had recommended shorting the cryptocurrency abreast 5300 by agreement a stoploss aloft 5500 and Litecoin has accepted me wrong
Litecoin is currently trading up 12.41% at $5.379.
Image: https://www.tradingview.com/x/76LSI2Cb/
Technically, Litecoin looks appalling alike at these abandoned levels. The 240-minute LTC-USD amount blueprint indicates able bullish force abaft the acceleration and it has become abundantly difficult for me to animadversion as to back the accumulation booking will appear in or back the bazaar would apprehend its folly.
Litecoin Blueprint Structure – The blueprint aloft acutely tells that Litecoin is currently trading abreast its 10-month aerial of $5.680. It hit an intraday aerial of $5.663 afore some money was taken off the table.
Moving Average Convergence Divergence – The MACD and the Signal Line extend their gains, surging to 0.3824 and 0.2766 respectively. The Histogram amount inspires aplomb in the basal drive with a amount of 0.1058.
Momentum – The Drive indicator additionally reflects that bullish drive is decidedly able with a absolute amount of 1.2939.
Relative Strength Index – I accept been bombastic for continued that Litecoin is acutely overbought and I durably accept that this carelessness cannot end able-bodied for the cryptocurrency investors who abide to bid college alike in the absence of any absolute axiological change in the underlying. The latest RSI amount additionally supports my appearance with a account of 74.4896.
Conclusion
Litecoin charcoal big-ticket but that has bootless to avert the investors and the bazaar speculators who accept aerial amount to a abreast 10-month high. For those who are attractive to buy Litecoin, I would advance that they delay for lower and added adequate levels. For now, there is a college adventitious of accident money than authoritative it.
