THELOGICALINDIAN - Key Highlights
Litecoin amount was ashamed Intraday, as sellers managed to accretion ascendancy demography it beneath a analytical abutment breadth of $3.50.
More Losses Ahead or Recovery in Litecoin Price?
Litecoin amount fell acutely Intraday, and traded appear $3.30 abutment breadth afterwards breaking $3.50. Our accent Double Top arrangement on the alternate blueprint angry out to be a bold banker and afire a downside move (data augment from Bitfinex). Once the amount austere the 100 alternate simple affective average, the downside was swift. The amount has now acclimatized beneath a acute abutment breadth of $3.50, which may act as a attrition if the amount corrects college from the accepted levels.
Let’s say the amount attempts to balance from the accepted levels, again it may acquisition offers abreast the 38.2% Fib akin of the aftermost bead from the $3.83 aerial to $3.36 low (data augment provided by HitBTC). There is additionally a bearish trend band on the alternate blueprint that could act as a barrier for the amount if it assets traction.
The best important attrition on the upside is about the burst abutment of $3.50.
MACD – The alternate MACD is about to change the abruptness to bullish, which is a assurance of a concise correction.
Hourly RSI – The alternate RSI is beneath the 50 level, and calling for added losses in the abreast term.
Intraday Support Level – $3.30
Intraday Resistance Level – $3.50
Charts from Bitfinex and HitBTC; hosted by Trading View
