THELOGICALINDIAN - Litecoins amount recovered afterwards trading as low as 350 and is currently trading aloft an important abutment breadth that holds the key affective ahead
Litecoin amount boring grinded college this accomplished week, and we connected to chase a bullish trend band on the 2-hour blueprint (data augment from HitBTC). The accent trend band and abutment breadth played able-bodied and gave us abounding affairs opportunities; however, we charge to be actual accurate affective ahead, as the drive is abundant beneath and there is no access in volume. Moreover, it looks like sellers already fabricated abounding attempts to breach the accent trend line, which agency the adventitious of a breach lower added over time.
The amount is aloof trading aloft the 100 simple affective boilerplate on the 2-hour chart, suggesting that it is trading about a above abutment area. A breach beneath the trend band and the 100 MA may burn a downside move in the abreast term.
Looking at the alternate chart, there is addition bullish trend band basic (data augment from Bitfinex). Moreover, the amount is aloof about the 38.2% Fibonacci retracement akin of the aftermost beachcomber from the $3.56 low to $3.79 high. A breach beneath the trend band may be the aboriginal assurance of a buck leg.
2H MACD – The 2-hour affective boilerplate aggregation alteration is neutral, but suggesting a change of trend in the abbreviate term.
2H RSI – The 2-hour about backbone basis is additionally beneath the 50 level, which is addition admonishing for the bulls.
Intraday abutment level – $3.65
Intraday attrition level – $3.80
Charts from Bitfinex and HitBTC; hosted by Trading View
