THELOGICALINDIAN - Key Highlights
Litecoin amount confused lower acutely and bootless to barter higher, suggesting that buyers are disturbing to authority the ground.
Support Turned Resistance
Finally, our ahead accent $3.40 attrition breadth acted as a agitator and pushed Litecoin amount lower. A above abutment trend band on the alternate blueprint (price augment from Bitfinex) was austere to accessible the doors for added downsides in the abreast term. Moreover, the amount acclimatized beneath 100 alternate simple affective boilerplate (MA), which is a assurance that sellers were in control.
The amount dived afterwards the declared breach and traded beneath our antecedent advertise ambition of $3.10. The amount traded as low as $3.04 breadth buyers almost managed to authority losses. We charge to agenda that $3.00 represents a above abutment area. So, there is a adventitious of a accessory alteration affective advanced may be aback appear the antecedent abutment of $3.20 that could act as a attrition now. An antecedent attrition can be about the 38.2% Fib retracement akin of the aftermost bead from the $3.23 high to $3.04 low.
A bright breach and abutting beneath an important abutment breadth is additionally arresting from the amount augment Bitfinex as apparent below.
MACD – The alternate MACD is acerb bearish and benign added losses.
RSI – The alternate RSI is about oversold reading, pointing appear a accessory alteration affective ahead.
Intraday Support Level – $3.00
Intraday Resistance Level – $3.20
Overall, there is a adventitious of a accessory correction, but buyers may attempt abreast $3.20.
Charts from Bitfinex and HitBTC; hosted by Trading View
