THELOGICALINDIAN - Litecoins amount is assuming bearish signs if we attending at the lower time anatomy blueprint but it is bullish if we attending at the 2hour chart
Litecoin’s amount looks like it’s disturbing to accretion absorption and is currently adverse a boxy barrier about a bearish trend band on the alternate blueprint (data augment from Bitfinex). Currently, the amount is flirting with the 100 alternate simple affective average. It acted as a abutment on a cardinal of occasions, and if sellers administer to booty the amount beneath it, again added losses are possible.
On the upside, the trend band is additionally ancillary with the 50% Fibonacci retracement akin of the aftermost bead from the $3.84 aerial to the $3.55 low. A breach and abutting aloft the accent trend band and attrition breadth could burn a aciculate move up.
Looking at the 2-hour blueprint with the abstracts augment from HitBTC, there is a bullish trend band formed. This is not all, as the amount is aloft the 100 alternate simple affective average, suggesting that buyers are actuality to stay. In short, there ability be a accessory bottomward move, but as continued as the abutment trend band on the 2-hour blueprint holds, added assets are likely.
2-hours MACD – The 2-hour Moving Average Convergence Divergence is about to change the abruptness to bullish, which may burn an upside move.
2-hours RSI – The Relative Strength Index is aloof aloft the 50 level, which may animate buyers.
Intraday Support Level – $3.60
Intraday Resistance Level – $3.70
Charts from Bitfinex and HitBTC; hosted by Trading View
