Litecoin Price Weekly Analysis – Likely to Hit Fresh Highs
technical analysis

Litecoin Price Weekly Analysis – Likely to Hit Fresh Highs

THELOGICALINDIAN - Litecoin amount has managed to breach a above attrition breadth which ability burn an upside assemblage affective ahead

The Litecoin amount begin abutment about $2.40, which acted as a aloft hurdle for sellers and prevented added losses. There was an upside move recently, as the amount managed to breach the 23.6% Fib retracement akin of the aftermost bead from the $4.00 aerial to $2.40 low is possible. The best important point was the actuality that the amount additionally breached a bearish trend band formed on the 4-hours chart. This was not all, as buyers additionally managed to advance the amount aloft the 100 simple affective boilerplate (4H). In short, there are abounding bullish signs on the 4-hours chart, highlighting that the amount could barter college affective ahead.

Litecoin Price Weekly Analysis

The abutting hurdle for buyers could be about the 50% Fib retracement level, as currently the amount is disturbing to bright the 38.2% Fib level. On the added hand, if sellers booty the amount lower, again the 100 SMA ability act as a support. A breach beneath it ability booty the amount appear the burst trend line, which could act as a abutment affective ahead.

Any added losses ability be a abrogating sign, which could advance the amount arise the aftermost beat low of $2.40 area buyers may arise to anticipate losses.

Intraday Support Level – $2.75

Intraday Resistance Level – $3.50

The alternate RSI and MACD are in the bullish zone, which suggests that added assets are likely.

 

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