THELOGICALINDIAN - Key Highlights
Litecoin amount traded lower and fell abutting to $2.40 afore award buyers to assure added losses.
There was a aciculate downside acknowledgment this accomplished week, as the amount dived appear $2.40. However, there was a awful acknowledgment acclaimed about the mentioned area, as buyers pushed the amount higher. Now, there is a bearish trend band formed on the 4-hours chart, which is preventing assets in the abreast term. The amount recovered and traded aloft the 23.6% Fib retracement akin of the aftermost bead from $3.70-$2.40.
100 SMA and 50% Fib Confluence
The amount is currently disturbing to bright the 38.2% Fib level, and there was a abortion already about it. The bearish trend band and the Middle Bollinger Band is positioned about the declared fib level. However, the best important attrition is anchored about the 50% Fib level, as it is positioned with the 100 simple affective boilerplate (4hours). So, if buyers administer to bright the trend band attrition area, again the abutting hurdle for buyers is about the $3.05 level. Any added assets in that bearings ability be difficult, as there are no auspicious bullish assurance on charts.
On the downside, the aftermost beat low of $2.41 ability abide to act as a abutment area. A breach beneath it could booty the amount appear the all-important $2.00 area. The alternate RSI is beneath the 50 level, which is a bearish sign.
Intraday Support Level – $2.40
Intraday Resistance Level – $2.90
The MACD has started to move in the bullish zone, and ability advice buyers affective ahead.
Charts address of Trading View
