THELOGICALINDIAN - Key Highlights
Litecoin amount afterwards trading abreast $3.00 recovered well. If the buyers administer to breach the accent trend band and attrition area, again added upsides are likely.
Litecoin Price – Buy with a Break?
Litecoin amount afterwards diving appear the $3.00 abutment breadth adjoin the US dollar confused aback higher. It looks like a short-term range is basic of $3.18-$3.32, as the amount begin bids time and afresh about $3.18 and offers abreast $3.32. However, there are a few absolute signs to look, as the amount is aloft the 100 simple affective boilerplate (4-hours chart, abstracts augment via Bitfinex).
Moreover, the amount additionally bankrupt the 50% Fib retracement akin of the aftermost bead from the $3.33 aerial to $3.16 low. However, there is a concise bearish trend band formed on the 4-hours (data augment via Bitfinex), which is currently acting as a hurdle for the bulls. If they administer to bright it, again the range attrition area of $3.32 may be tested. Any added assets could booty the amount appear the $3.45 levels.
If you are attractive to buy with a breach aloft the trend band attrition area, again a stop should a abutting beneath the 100 SMA (H4 chart).
4-hours MACD – The MACD is in the bullish slope, but there is no absolute momentum, which is a admonishing assurance in the abbreviate term.
4-hours RSI – The RSI is aloft the 50 level, which may animate the beasts to accretion drive and booty the amount higher.
Intraday Support Level– $3.24
Intraday Resistance Level – $3.32
Charts from Bitfinex; hosted by Trading View
