THELOGICALINDIAN - Key Highlights
Litecoin amount is in a bearish trend as there is a massive attrition about $3.20-30, which is consistent in a downside reaction.
Retest of Lows?
We declared time and afresh that there is a above attrition basic about $3.20-30 in Litecoin price. It looks like the amount bootless absolutely to move higher, and started to trend lower. There is a bearish trend band on the 2-hours blueprint (price augment from Bitfinex) that acted as a barrier and pushed the amount aback lower. The affliction affair is that the amount has confused beneath the 100 simple affective average.
We can say that the alteration appearance is acceptable over, as it chock-full abreast the 50% Fib retracement akin of the aftermost bead from the $3.26 High to $3.04 Low. So, it is accessible that the amount may accretion clip appear the aftermost low of $3.04. On the upside, the 100 MA ability act as an antecedent resistance, followed by the trend band area.
More bearish signs can be arresting on the alternate blueprint (price augment provided by HitBTC), which suggests that there is a massive attrition architecture abreast $3.20-30.
MACD – The alternate MACD agee in favor of sellers in the abreast term.
2H RSI – The 2-hours RSI is additionally beneath the 50 level, which agency sellers are in control.
Intraday Support Level – $3.04
Intraday Resistance Level – $3.30
In short, we can attending to access a advertise barter already the amount trades or corrects college appear the accent attrition breadth abreast $3.20-30.
Charts from Bitfinex and HitBTC; hosted by Trading View
