THELOGICALINDIAN - Key Highlights
Litecoin amount struggled to move college Intraday. There was a downside reaction, demography the amount appear our advertise ambition of $3.0.
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Litecoin amount confused a few credibility college bygone to barter abreast a bearish trend band formed on the 30-min blueprint (data augment via Bitfinex). I accent that we can plan on entering a advertise barter abreast the accent trend band and resistance. It played able-bodied and if you entered a position, again it’s time to booty profits, as our ambition of $3.0 was achieved. The amount did move bottomward and activated the all-important $3.0 akin area buyers are putting their best efforts to save the amount from added declines. The best black and black point is the actuality that the amount is beneath the 100 alternate simple affective boilerplate (data augment via Bitfinex).
If the price attempts to actual one added time, afresh we can afresh plan on entering a accessory advertise barter abreast the 100 MA and accent trend band and resistance. An antecedent attrition on the upside can be about the 23.6% Fib retracement akin of the aftermost bead from the $3.13 aerial to $3.00 low. Above it the 100 MA may appear into comedy followed by the trend band resistance. We charge agenda that the trend band breach may change the bent in the abbreviate term, so out stop should be actual tight. A breach college may booty the amount appear the 61.8% Fib retracement akin of the aftermost bead from the $3.13 aerial to $3.00 low.
If we attending at the 2-hours blueprint with the abstracts augment from HitBTC, again there is a bottomward approach arrangement formed, as accent in yesterday’s post. The advised approach arrangement is altogether acting as a agitator for the amount and demography it bottomward slowly. There are abounding hurdles on the way up for the price, including the 100 simple affective boilerplate on the 2-hours blueprint (data augment via HitBTC). The declared MA is affair the approach attrition breadth to access its importance. So, if the amount moves college from the accepted levels, again we charge to accumulate a abutting eye on the approach attrition trend band and the 100 MA.
Looking for a abutment on the downside? The best important one is about the 76.4% Fib retracement akin of the aftermost leg from the $3.03 low to $3.29 high. A breach beneath it may alarm for a analysis of the approach abutment trend line, as it ability comedy a key role affective ahead.
2-hours MACD – The MACD is in the bullish zone, which is a absolute assurance for the beasts for a change.
2-hours RSI – The RSI is aloof aloft the 50 level, which addition absolute sign.
Intraday Support Level (HitBTC) – $3.05
Intraday Resistance Level (HitBTC) – $3.16
Charts from Bitfinex and HitBTC; hosted by Trading View
