THELOGICALINDIAN - Key Highlights
Litecoin amount attack to barter college was successful, as it confused aloft a above axis of $3.20 this accomplished week.
$3.20 as Pivot
The Litecoin amount afterwards trading a blow aloft a aloft akin of $3.20 started a correction. The amount adapted as low as $3.00 breadth buyers appeared to anticipate downsides and pushed the amount higher. There is a bullish trend band formed on the 4-hours blueprint of the Litecoin price, which is currently acting as a abutment breadth and a move for an upside move. The best allotment is the actuality that the amount has acclimatized aloft the 100 alternate simple affective average, which is a assurance that buyers were able to advance the amount in the bullish zone.
The amount is currently beneath a accessory correction, and trading abreast the 38.2% fib retracement akin of the aftermost move from the $3.00 low to $3.20 high. Moreover, the Middle Bollinger Band and the 100 alternate simple affective boilerplate are positioned about the mentioned fib level. This is not all, as the accent trend band and abutment breadth is additionally about the aforementioned area. So, in abbreviate there is a above abutment formed about $3.10. A breach beneath the aforementioned ability alarm for added losses in the abreast term, which could booty it appear $3.00.
On the upside, an antecedent attrition is about the aftermost aerial of $3.20, which is a big hurdle for buyers.
Intraday Support Level – $3.10
Intraday Resistance Level – $3.20
The 4H RSI is aloft the 50 level, which is absolute assurance for buyers.
Charts coutesy of Trading View
