THELOGICALINDIAN - Litecoin rises 1 percent to 3060 as buyers blitz to access the cryptocurrency abreast the able abutment akin apparent in the blueprint beneath With this Litecoin has additionally averted the accident of an actual atrophy but it would be activity too far to say that the cryptocurrency is out of the woods
Image: https://www.tradingview.com/x/XSGwqL8i/
Let us altercate the adapted abstruse levels and the blueprint anatomy appropriate to accomplish abreast trading decisions.
Litecoin Chart Structure – The ambit is closing in on Litecoin; the abutment band is advancement angled while the attrition is a near-perfect horizontal. Two important levels from a trading angle i.e. the accepted abutment and the attrition are $3.000 and $3.135 respectively.
Moving Average Convergence Divergence – The MACD, Signal Line and Histogram are captivation aloft the 0-level, alike admitting their corresponding ethics are actual small. MACD now has a amount of 0.0240, Signal Line has a amount of 0.0038 and Histogram has a amount of 0.0203.
Momentum – In the previous analysis, we discussed how the Momentum indicator had breached a acute abutment level. Today, as the amount has rebounded from the support, we are seeing a agnate development in the Momentum account as well. The latest Momentum amount is 0.1340, a cogent jump from yesterday’s 0.0015.
Money Flow Index – The amount of the MFI charcoal depressed beneath the burst band (marked in the blueprint above). The latest amount is 54.7421.
Relative Strength Index – The RSI has avant-garde alone carefully to 56.2505.
Conclusion
While Litecoin consolidates central the absorption trading range, bazaar participants would be brash to barter this range. Now is the time back sitting on the sidelines and cat-and-mouse for a blemish will aftereffect in bigger bartering opportunities.
As Bitcoin stutters on its way up, it is awkward the acceleration in Litecoin too. Currently abreast $243, Bitcoin’s Achilles Heel is $240 while that of Litecoin is $3.000.
Expect a able acceleration if Litecoin breaches $3.135 in the abutting 24 hours.
