THELOGICALINDIAN - Litecoins amount traded college intraday and our abstraction bygone of affairs with a breach played able-bodied Now we can attending to buy dips in the abbreviate term
Litecoin amount is currently trading in an uptrend on the 1-hour chart, as there was a analytical breach that afire a rally. A application alliance arrangement was formed, which was austere by buyers to booty the amount higher. From a absolutely abstruse perspective, traders can anticipate a lot of buying action every time the amount trades aback appear the burst triangle area.
The amount activity charcoal bullish aloft $3.80, and alone accumulation taking may let the amount move aback to $3.50. Yesterday, we accent a ambit attrition breadth abreast $3.50, which was accumbent with the 100 alternate simple affective boilerplate (data augment from Bitfinex) and the 23.6% Fibonacci retracement akin of the aftermost bead from the $4.30 aerial to the $3.50 low. The amount managed to breach the aforementioned and traded higher.
There is a adventitious that the amount may dip already to allure buyers afore branch college already again. On the upside, the abutting hurdle lies abreast the 50% Fibonacci retracement akin of the aftermost bead from the $4.30 aerial to the $3.50 low.
Hourly MACD – The alternate Moving Average Convergence Divergence is in the bullish zone, signaling added assets in the abreast term.
Hourly RSI – The Relative Strength Index is about the overbought levels, calling for a accessory correction.
Intraday Support Level – $3.60
Intraday Resistance Level – $3.80
Charts from Bitfinex and HitBTC; hosted by Trading View
