THELOGICALINDIAN - Key Highlights
Litecoin amount bootless to barter higher, and our advertise abstraction on the 30-min blueprint was a absolute accord as the amount confused bottomward appear $3.00.
Sell Near Trend Line Resistance?
There were a few bearish signs acclaimed on the 30-mins blueprint (data augment via Bitfinex) for Litecoin price, which played able-bodied and pushed the amount down. There was a bullish trend line, which was burst to burn a buck rally. Now, there is a bearish trend band formed on the aforementioned blueprint that acted as a barrier for buyers on abounding occasions, and it looks like there is a adventitious that the amount may analysis if already again. The 100 simple affective average on the 30-min blueprint (data augment via Bitfinex) is altogether accumbent aloof beneath the accent bearish trend band to access its importance.
So, we can say that the $3.05-07 levels on the 30-min blueprint (data augment via Bitfinex) represents a aloft hurdle for buyers in the abreast term. Moreover, the 50% Fib retracement akin of the aftermost leg bottomward from the $3.10 aerial to $3.00 low is additionally about the accent trend band and attrition area. Overall, the $3.05-07 levels can be apparent as a absolute advertise breadth as continued as the amount stays beneath it. On the downside, the best important abutment is about the $3.00 area, as it represents a aloft barrier for sellers and adjourned a breach on abounding occasions. The alternate RSI is aloft the 50 level, which agency the amount may fasten to barter abreast the accent trend band and attrition area.
On the college timeframe blueprint like the 2-hours blueprint with the abstracts augment from HitBTC, there was a application triangle breach yesterday, but it bootless to advice buyers and angry out to be a apocryphal one. The amount confused bottomward and traded as low as $3.03 area somehow buyers appeared to anticipate added downsides. On the 2-hours blueprint additionally there is a bearish trend band formed with a agnate scenario.
There is a bearish trend band and the 100 simple affective boilerplate on the 2-hours blueprint (data augment via HitBTC) are positioned about the aforementioned levels. This is not all, as the 50% Fib retracement akin of the aftermost bead from the $3.27 aerial to $3.03 low is additionally about the aforementioned area. All in all it looks like there are abounding hurdles on the way up for Litecoin price, and if it moves higher, sellers may arise to anticipate gains. Selling may be a acceptable accord affective ahead.
2-hours MACD – The MACD is in the bearish zone, which credibility appear added losses.
2-hours RSI – The RSI is beneath the 50 level, which is a bearish sign.
Intraday Support Level (HitBTC) – $3.03
Intraday Resistance Level (HitBTC) – $3.18
Charts from Bitfinex and HitBTC; hosted by Trading View
