THELOGICALINDIAN - The affair continues in Litecoin markets as the amount rose addition 266 or 013 to 4978 With alternating assets Litecoin is fast abutting its antecedent top of 5237 The abstruse indicators reflect no weakness as of now
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Litecoin may accept some added beef larboard in it, and hence, dips can be acclimated to buy the cryptocurrency. Read on to acquisition the latest abstruse factors below.
Litecoin Chart Structure – In yesterday’s rally, Litecoin jumped to $5.080 afore abatement slightly. Another agency belief on Litecoin is the stalling of Bitcoin. I had beforehand mentioned that the acceleration in Litecoin is positive correlated with Bitcoin, and any underperformance in Bitcoin will accept a abrogating appulse on Litecoin as well.
Fibonacci Retracements – The cryptocurrency is additionally accepted to face beginning affairs burden abreast the 38.2% Fibonacci retracement akin of $5.270, which is afterpiece to the antecedent top. A jump to this akin can be acclimated to lighten the continued positions as able-bodied as actualize new abbreviate positions.
Moving Average Convergence Divergence – The MACD, Signal Line and Histogram are all in the absolute area with corresponding ethics of 0.2145, 0.1012 and 0.1133.
Momentum – The Momentum indicator sees a able acceleration in the amount to 1.3726.
Money Flow Index – The MFI continues to beforehand forth with the amount appreciation. The latest MFI amount is 66.9626.
Relative Strength Index – The 14-day RSI amount is accumbent at 59.4302.
Conclusion
Litecoin is currently witnessing able bullish participation, however, with every acceleration it becomes beneath adorable to actualize continued positions. Market participants should delay for a dip afore cloudburst money into continued trades. Maintain a stop-loss beneath $4.360. Traders are additionally brash to accumulate clue of the Bitcoin markets which are currently beneath slight burden from profit-booking.
Short positions should alone be advised while afterward a stop-loss aloft $5.300 (closing basis).
