THELOGICALINDIAN - Key Highlights
Litecoin amount recovered able-bodied afterwards a above drop. However, the beasts accept a job on their hand, as LTC/USD faces a above attrition areal.
Litecoin Price – Buy with a Break?
Litecoin amount managed to barter college adjoin the US dollar and was mostly apparent accumulation beneath a major attrition area of $3.25-30. There is a assemblage breadth basic about the declared levels, as there is a bearish trend band on the 4-hours (data augment via Bitfinex) positioned. Moreover, the 61.8% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.00 low is additionally accumbent abreast it to access the accent of the attrition area.
The best important aspect is that the 100 simple affective boilerplate on the 4-hours blueprint is additionally about the aforementioned accent attrition assemblage area. That is the acumen why, there is a monster hurdle for the beasts abreast $3.25-30.
If the buyers accomplish in breaking the accent attrition area, again a move appear the 88.6% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.00 low is possible. One may accede affairs if the amount settles aloft the 100 SMA (H4 chart) with a stop if the amount moves aback beneath it.
4-hours MACD – The MACD is about flat, calling for a alliance and again a break.
4-hours RSI – The RSI is aloft the 50 level, which can be advised as a absolute assurance for the bulls.
Intraday Support Level– $3.18
Intraday Resistance Level – $3.25
Charts from Bitfinex; hosted by Trading View
