THELOGICALINDIAN - Litecoins amount bounced from the 32030 abutment breadth but begin sellers abreast 360 that acted as a monster barrier for an upside move
Litecoin prices afresh confused afterpiece to the 61.8% Fibonacci retracement akin of the aftermost bead from the $3.78 aerial to the $3.26 low, breadth it begin resistance. The declared Fib akin was additionally ancillary with a bearish trend band on the alternate blueprint (data augment from Bitfinex), which acted as a hurdle. The amount is currently affective lower as buyers struggled to bright the trend band and attrition area.
However, there is a aloft abutment on the downside in the anatomy of the 100 alternate simple affective average. As continued as the amount is aloft it, there is a adventitious of it affective aback afterpiece to the accent trend band and attrition area.
There are some absolute signs as able-bodied for buyers, as the amount is affective central an ascendance approach on the alternate blueprint (data augment from HitBTC). If buyers accretion momentum, there is a achievability that the amount may fasten higher. The abutting akin of absorption on the upside could be about $3.80.
MACD – The alternate MACD is in the bearish slope, pointing to added losses.
Hourly RSI – The alternate RSI is beneath the 50 level, which is addition bearish sign.
Intraday Support Level – $3.30
Intraday Resistance Level – $3.50-60
Charts from Bitfinex and HitBTC; hosted by Trading View
