THELOGICALINDIAN - Key Highlights
Litecoin amount climbed college this accomplished anniversary and showed a lot of bullish signs. It looks like affairs dips abstraction may assignment in the abreast term.
Litecoin Price – Buy Near Trend Line?
Litecoin amount afterwards trading abreast the $3.00 abutment breadth for a continued time formed a abject and started to move higher. The upside move was actual strong, as the amount austere 100 simple affective average on the 4-hours blueprint (data augment via Bitfinex), and activated the $3.45-50 area. The aftermost brace of H4 candles are actual bullish, and pointing appear the actuality that buyers are in control.
There is a abutment trend band formed on the H4 chart, which acted as a agitator for an upside move, and if the amount moves bottomward from the accepted levels, again it can be apparent as a buy area. An initial abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $3.15 low to $3.44 high.
However, there lies a achievability of the addendum of alteration phase. So, the abutting abutment breadth area buyers may arise could be about the 50% Fib retracement akin of the aftermost beachcomber from the $3.15 low to $3.44 high.
On the upside, a breach aloft $3.50 may accessible the doors for a way appear $4.00.
4-hours MACD – The MACD is in the bullish zone, and suggesting added gains.
4-hours RSI – The RSI is about the overbought levels, calling for a concise correction.
Intraday Support Level– $3.33
Intraday Resistance Level – $3.45
Charts from Bitfinex; hosted by Trading View
