THELOGICALINDIAN - Key Highlights
Litecoin amount backward bottomward and traded lower. Every attack by buyers to booty the amount college bootless as sellers enjoyed an high hand.
Sell Near Trend Line Resistance?
Litecoin amount afterwards trading abutting to the $3.13 akin on the 30-min blueprint (data augment via Bitfinex) bootless and started to move down. The downside move was adjourned abreast $3.02, as the all-important breadth of $3.00 came into the picture. Now, there is a bearish trend band formed on the 30-min chart, which can be apparent as a sell area if the amount continues to move college from the accepted levels. There are a lot of bearish signs for Litecoins, as the amount is beneath the 100 simple affective boilerplate (30-min blueprint and abstracts augment via Bitfinex).
If the amount moves higher, again an antecedent attrition can be about the declared affective average, as it is additionally positioned with the 23.6% Fib retracement akin of the aftermost bead from the $3.13 aerial to $3.02 low. A breach aloft the 100 MA may animate buyers, and could booty the amount appear the accent bearish trend band and attrition area. It holds a lot of accent in the abreast term, as sellers may footfall in to anticipate the upside move. The 38.2% Fib retracement akin of the aftermost bead from the $3.13 aerial to $3.02 low is additionally accumbent about the aforementioned trend band to act as a hurdle for buyers. Only a breach aloft the accent bearish trend band and attrition breadth may alarm for added gains, demography the amount appear the aftermost beat aerial of $3.13.
However, back it comes to attractive for barrier for Litecoin price, again the best important one is on the college timeframe blueprint (2-hours blueprint with the abstracts augment from HitBTC). The amount bootless on at atomic 10 times about $3.14-16 area, as the 100 simple affective boilerplate (H2) is positioned to act as a barrier for added gains. Furthermore, the 50% Fib retracement akin of the aftermost bead from the $3.28 aerial to $3.019 low is additionally anchored abreast the 100 MA attrition area, suggesting that $3.16 holds the key for added gains.
On the downside, there is a above bullish trend band formed on the 2-hours chart, which is accouterment abutment to buyers. Overall, on the downside, the $3.0 handle is a above abutment area, and on the upside, the $3.16 breadth is apparent as a hurdle for added gains.
2-hours MACD – The MACD is in the bearish zone, but may change the abruptness if buyers footfall in.
2-hours RSI – The RSI is beneath the 50 level, which is a affair if buyers accept to booty the amount higher.
Intraday Support Level (HitBTC) – $3.00
Intraday Resistance Level (HitBTC) – $3.16
Charts from Bitfinex and HitBTC; hosted by Trading View
