THELOGICALINDIAN - Key Highlights
Litecoin prices looks set for yet addition break, as the amount is basic an absorbing blemish arrangement on the alternate chart.
Can buyers breach the trend band attrition area?
Litecoin amount faced a boxy time lately, as sellers managed to avert the upside time and again. There are abounding hurdles on the way up for buyers, starting with a bearish trend band formed on the alternate blueprint (data augment from Bitfinex). If there is a breach aloft the accent trend band and attrition area, again the amount could arch appear the 38.2% Fibonacci akin of the aftermost bead from the $3.77 aerial to the $3.27 low.
The best important point is that the declared Fib akin is positioned with the 100 alternate simple affective average. So, we can say that aloft the trend band the abutting attrition lies abreast $3.45.
The abstracts augment from HitBTC suggests that the amount may consolidate for some time afore affective higher. There is a application triangle formed on the alternate blueprint as well, which could burn a breach affective ahead. A break beneath the aftermost beat support may booty the amount appear $3.20 in the abbreviate term.
MACD – The alternate MACD is mostly flat, suggesting ambit moves.
Hourly RSI – The alternate RSI is aloof beneath the 50 level, which is a bearish call.
Intraday Support Level – $3.30
Intraday Resistance Level – $3.50-60
Charts from Bitfinex and HitBTC; hosted by Trading View
