THELOGICALINDIAN - Key Highlights
Litecoin amount alone abutting to the $3.0 akin recently. It looks like the amount is set for added losses if the bears abide in control.
Litecoin Price – Continue Selling?
Litecoin amount this accomplished anniversary bootless to hold the bullish momentum and dropped. My abstraction of abbreviate played able-bodied and I anticipate if u entered again there were nice profits to book. There was a bullish trend band formed on the 4-hours (data augment via Kraken), which was burst to burn the downside move.
The amount traded as low as $3.01 area there were bids attention added losses. The amount started a short-term recovery afterwards testing the declared level. It is currently trading abreast the 38.2% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.01 low. Let us see whether it can accretion absorption or not affective ahead. The amount is able-bodied beneath the 100 simple affective boilerplate on the 4-hours chart, which can act as a above barrier if the amount moves college from the accepted levels.
Moreover, the 50% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.01 low can additionally arrest the upside move. On the downside, the $3.0 handle charcoal a above abutment area.
4-hours MACD – The MACD is acerb in the bearish zone, suggesting the bears are in control.
4-hours RSI – The RSI is about the oversold levels, which may burn a accessory accretion this accessible week.
Intraday Support Level– $3.00
Intraday Resistance Level – $3.20
Charts from Kraken; hosted by Trading View
