THELOGICALINDIAN - Key Highlights
Litecoin amount bankrupt a analytical abutment breadth to burn a bearish beachcomber that ability abide in the abreast term.
$3.20-30 as Sell Zone?
The Litecoin amount formed a contracting triangle (price augment from Bitfinex), which was burst by sellers afresh to bright the way for added downsides in the abreast term. The best important point is the actuality that the amount is now trading beneath the 100 alternate simple affective boilerplate (MA), which agency there is a adventitious of added losses.
The amount is currently trading abreast the 61.8% Fib retracement akin of the aftermost move from the $2.90 low to $3.21 high. There is a adventitious that the amount ability actual a few credibility college from the accepted levels, but in that situation, it may acquisition attrition about $3.20-30. The burst abutment breadth and the 100 alternate MA ability act as a hurdle for added assets affective ahead.
The amount augment from HitBTC suggests that the amount was trading in a range, which was burst and the amount confused lower. The ambit abutment breadth at $3.29 could now act as a barrier in the abreast term.
MACD – The alternate MACD is about to change the abruptness to bullish, which is a arresting of a accessory upside move that can be apparent as a correction.
RSI – The alternate RSI is beneath the 50 level, which is a arresting of sellers in action.
Intraday Support Level – $3.00
Intraday Resistance Level – $3.30
Overall, any alteration from the accepted levels may acquisition sellers abreast $3.20-30.
Charts from Bitfinex and HitBTC; hosted by Trading View
