THELOGICALINDIAN - Key Highlights
Litecoin amount continued to strengthen afterwards the contempo surge, and it looks set for added assets as continued as it stays aloft $3.50.
Trend Line Support
Litecoin amount rocketed college afresh to barter abreast $3.83 area assets were stalled, and the amount started consolidating. The amount alike adapted lower and activated the 38.2% Fib retracement akin of the aftermost beachcomber from the $3.20 low to $3.83 aerial (price augment from HitBTC). Currently, there is a abutment trend band formed on the alternate chart, which is acting as a protector for the downside move and preventing losses.
The accent trend band and abutment breadth holds a lot of importance, as a breach beneath it may extend the accepted alteration phase. In that situation, the amount ability bead appear the abutting abutment area, which is at $3.50.
When we attending at the amount augment from Bitfinex, again we can assay that buyers are actual alive at present. There was a accelerate in Litecoin amount appear $3.50, but buyers appeared and pushed the amount aback higher. There was a nice bullish candle arrangement formed as accent in the chart, suggesting that affairs in the abreast appellation ability be a acceptable idea.
MACD – The alternate MACD is on the border of alteration the abruptness and signaling gains.
Hourly RSI – The alternate RSI is aloft the 50 level, and highlighting buyers’ strength.
Intraday Support Level – $3.50
Intraday Resistance Level – $3.70
Overall, we accede entering a buy barter abreast the trend band and abutment area.
Charts from Bitfinex and HitBTC; hosted by Trading View
