THELOGICALINDIAN - Litecoin looks unstoppable The bullish assemblage mentality has pushed the amount to a beginning 10month aerial of 6453 on able trading aggregate And there are no abstruse signals which announce that the aberration is about to lose beef In actuality the bazaar participants accept started accumulating Litecoin on alike the aboriginal dip
Litecoin has added 18% in assets back bygone to currently barter at $6.153.
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The 240-minute LTC-USD amount blueprint looks athletic and assertive for added gains. But back the cryptocurrency has already rallied decidedly in such a abbreviate time, I abide agnostic of its approaching returns.
Litecoin Blueprint Structure – A attending at the aloft blueprint confirms that beasts are stomping on the bears at every opportunity. Litecoin took out its antecedent aerial of $5.645 on able aggregate and continues to barter abreast the highs.
Moving Average Convergence Divergence – The Histogram amount continues to coquette with the 0 akin as MACD yet afresh crosses the Signal Line, this time on the upside. At the time of autograph this analysis, MACD has a amount of 0.4592, Signal Line has a amount of 0.3691 while the Histogram has a amount of 0.0901.
Momentum – The Momentum indicator witnessed addition agrarian beat in the reading. From yesterday’s afflictive account of -0.0601, the amount jumped acutely to hit 1.3869 afore abatement bottomward to 0.9115.
Relative Backbone Index – The 14-4h RSI amount signifies that Litecoin is overbought at accepted levels. The latest basal backbone account is 71.4071.
Conclusion
There doesn’t assume to be annihilation that is black the beasts at the moment. The cryptocurrency has acquaint astounding assets in such a abbreviate amount of time, after any axiological backing, and that is what is accretion the risks of the trade. Litecoin is a absolute drive comedy and those who ambition to ride this momentum-based assemblage may buy on dips with austere losses in place. I wouldn’t appetite to ride this rally.
