THELOGICALINDIAN - Litecoin is trading with a absolute bent as abbreviate sellers run for awning The cryptocurrency is trading 1344 percent college at 2870 as oversold altitude accord way to accumulation booking But this anticipation was already discussed in the antecedent Litecoin abstruse assay Next Target 2024 Adding to the abundance of the cryptocurrency is the aciculate beforehand in Bitcoin
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I am of the assessment that the accepted assemblage is a allurement and that bazaar participants should rather accede shorting Litecoin on a rise by agreement a stop-loss aloft $3.200. And beneath are the latest abstruse break which are acute me to anticipate so.
Litecoin Chart Structure – Yesterday’s assemblage was accompanied by a acceptable trading volume, but that was mostly fueled by abbreviate covering. The cryptocurrency is accepted to aperture its actual abutment of $2.750 in the advancing sessions.
Moving Average Convergence Divergence – The MACD and the Signal Line extend their accident band by addition day. The aftermost ascertainment for MACD was fabricated at -0.2965 while that for Signal Line was fabricated at -0.2024. The Histogram charcoal ashore in the abrogating area with a amount of -0.0974.
Momentum – The Momentum indicator suggests that the amount acceleration is not a acumen to bless with its amount of -1.0540.
Money Flow Index – Litecoin is almost blockage abroad from the oversold arena as conveyed by the MFI amount of 20.2199.
Relative Strength Index – The RSI amount continues to appearance a abatement in account alike as the amount jumps. The latest amount is 31.6810.
Conclusion
Due to the acutely airy attributes of Litecoin, it is actual adamantine to alarm a top for this jump, however, bazaar participants charge use a added beforehand to go abbreviate by agreement a bound stop-loss aloft $3.200.
Also, accumulate tracking the Bitcoin bazaar for admired insights.
I accept we will see lower levels in Litecoin soon.
