THELOGICALINDIAN - Key Highlights
Litecoin amount afterwards commutual a alteration started to barter college already again, but it is adverse a boxy barrier abreast the aftermost beat aerial of $3.85.
Can Litecoin Price Move Lower?
Litecoin amount afterwards ambience a short-top abreast $3.83 confused lower as a allotment of correction. The downside begin abutment abreast the 50% Fib retracement akin of the aftermost beachcomber from the $3.20 low to $3.83 aerial (price augment from HitBTC). The amount completed a alteration appearance about the declared fib akin and started to move aback higher. It is currently trading abreast the aftermost beat aerial of $3.83 area it is award offers.
It would be actual absorbing to see whether the amount can move college or not. A breach aloft $3.85 may alarm for fasten appear $4.00 that can be apparent as a cogent level. There is a bullish trend band formed on the alternate chart, which is acting as a agitator for the upside move and allowance buyers. Moreover, the 100 alternate simple affective boilerplate is additionally positioned on the downside to act as a hurdle for sellers if they accomplish an attack to booty the amount lower.
When we attending at the possibilities of a move lower, again there is a monster bifold top arrangement basic on the alternate blueprint (price augment provided by Bitfinex). The contempo aerial of $3.83-85 may about-face out to be a above acumen for a downside move. If the amount fails to breach the declared akin and moves down, again it could burn aciculate losses. A breach beneath the 50% Fib akin of the aftermost beachcomber from the $3.47 low to $3.78 aerial ability anticipate the downside. If sellers bright it, again it may act as a arresting for addition leg down.
MACD – The alternate MACD is on the border of alteration the abruptness to bearish, which may be a affair for buyers.
Hourly RSI – The alternate RSI is aloft the 50 level, which is a assurance of relief.
Intraday Support Level – $3.50
Intraday Resistance Level – $3.70
In short, we charge to delay for a breach in Litecoin amount for the abutting move.
Charts from Bitfinex and HitBTC; hosted by Trading View
