THELOGICALINDIAN - Key Highlights
Litecoin amount is currently assuming a lot of absolute signs, and ability barter college appear the $3.50 attrition breadth affective ahead.
Test of $3.50?
The Litecoin amount acquainted a lot of calefaction recently, as it confused lower and additionally traded beneath the $3.00 handle. The amount fell as low as $2.960 area buyers appeared to anticipate the downside. The amount is correcting higher, and austere a aloft bearish trend band on the alternate blueprint (price augment from Bitfinex). Moreover, the amount additionally acclimatized aloft the 100 alternate simple affective boilerplate (MA), suggesting that buyers had an high duke recently.
There is a achievability of the amount affective appear the 23.6% Fib retracement akin of the aftermost bead from the $5.39 high to $2.9 low area sellers ability booty a stand.
If we attending at the amount augment from HitBTC, again there is a accessible inverse arch and shoulders arrangement basic on the alternate chart. It is not a absolute attractive pattern, but it pointing appear the actuality that buyers are in and ability booty the amount higher.
MACD – The alternate MACD is currently flat, signaling a alliance period.
RSI – The alternate RSI is placed calmly aloft the 50 level, benign added backbone in the Litecoin price.
On the downside, the $3.00 handle may act as a abutment affective ahead.
Intraday Support Level – $3.00
Intraday Resistance Level – $3.50
In short, the amount ability arch appear $3.50 area sellers ability acknowledge to arrest gains.
Charts from Bitfinex and HitBTC; hosted by Trading View
