THELOGICALINDIAN - I anticipate that Litecoin has taken answerability from my aftermost assay As Flat As It Gets and surged over 20 during the weekend to cantankerous the aerial resistance
Litecoin is now trading up $0.839 or 22.45% at $4.575, acknowledgment to a nearly 6% acceleration in Bitcoin.
Image: https://www.tradingview.com/x/xoZaLGPB/
Even with abstruse indicators actual bearish, Litecoin surged during the weekend helped by a acceleration in the arch cryptocurrency Bitcoin. It has been afterward Bitcoin back the affecting abatement (see the big red candle in the blueprint above), replicating its every move. Even now, Litecoin has apoplectic its upmove as Bitcoin has hit a resistance.
Litecoin Chart Structure – With these gains, Litecoin beyond its aboriginal barrier of $4.100 and alike broken aloft its antecedent low of $4.280. The capital assignment afore the beasts now will be to cantankerous aloft the antecedent aiguille of $5.237 in adjustment to aftereffect a college top.
Moving Average Convergence Divergence – The MACD has registered a bullish crossover with the Signal Line and has aerial the Histogram in the absolute region. At the time of autograph this analysis, the corresponding ethics of MACD, Signal Line and Histogram were 0.1356, 0.0866 and 0.0491 respectively.
Momentum – The Momentum indicator has continued its assets to 0.8853.
Money Flow Index – The MFI has additionally confused upwards in accordance with the amount advance. MFI currently stands at 51.7841.
Relative Strength Index – The RSI amount is now aloft the aloof akin of 50 at 55.4525.
Conclusion
Even admitting the abstruse indicators accept angry bullish, I am not absolutely assertive with this rally. I accept that it may be addition attack to allurement the bazaar participants. But, those who absolutely accept in this amount acknowledgment should go continued by agreement a austere stop-loss beneath the antecedent attrition of $4.100. Short positions can additionally be advised abreast $5.237. Follow the stop-losses!
