THELOGICALINDIAN - Key Highlights
Litecoin amount acicular college and overcame all odds. It looks like there are added upsides larboard and one may accede affairs dips.
Buy Near 100 MA?
I accent bygone that the price may move bottomward once afresh afterwards testing the bearish trend band accent in yesterday’s assay on the 30-mins blueprint (data augment via Bitfinex) for Litecoin price. The amount did move bottomward once, but it begin buyers abreast the all-important $3.00 level. There were abounding rejections beforehand about the declared level, but this time sellers gave completely. As a result, there was a aciculate upside assemblage in Litecoin price. The amount surged college and austere the accent bearish trend band and attrition area. The best important point is that the amount acclimatized aloft the 100 simple affective boilerplate on the 30-min blueprint (data augment via Bitfinex).
In short, the contempo upside ride was acceptable as the amount traded as aerial as $3.18 area there was a acknowledgment noted. The amount is currently acclimation lower and may arch added bottomward afore buyers footfall in already again. An antecedent abutment can be about the 50% Fib retracement akin of the aftermost beachcomber from the $3.00 low to $3.187 high. However, if sellers booty the amount added down, again the best important abutment is apparent abreast the 100 simple affective average on the 30-min blueprint (data augment via Bitfinex), as it is ancillary with the 61.8% Fib retracement akin of the aftermost beachcomber from the $3.00 low to $3.187 high.
Any added losses could booty the amount appear the burst trend line, which may act as a barrier for sellers in the abbreviate term. There were bullish signs alike at the college time anatomy like the 2-hours blueprint with the abstracts augment from HitBTC. There was a above bearish trend band and attrition breadth formed, which was burst during the contempo upside ride. The amount additionally austere the 100 simple affective boilerplate on the 2-hours blueprint (data augment via HitBTC), which is a absolute assurance for bulls.
The amount adjourned abreast the 61.8% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.03 low. It agency there is a adventitious that the amount may actual a few credibility from the accepted levels afore accepting traction. The best abutment on the downside is about the burst trend line, which is ancillary with the 100 simple affective boilerplate on the 2-hours chart. Overall, one may accede affairs dips could be advised as continued as the amount stays aloft the 100 SMA (H2 chart).
2-hours MACD – The MACD is in the bullish zone, which is a absolute assurance for bulls.
2-hours RSI – The RSI is about the overbought levels, suggesting a accessory alteration is possible.
Intraday Support Level (HitBTC) – $3.16
Intraday Resistance Level (HitBTC) – $3.28
Charts from Bitfinex and HitBTC; hosted by Trading View
