THELOGICALINDIAN - Key Highlights
Litecoin amount may move aback college in the abbreviate term, as there are abounding absolute signs arising on both the alternate as able-bodied as 2-hours chart.
Move appear $3.40?
We were attractive for a correction in Litecoin price this accomplished anniversary afterwards it managed to billow afterpiece to the $3.50-55 attrition area. The amount adapted as low as $3.01, and again it begin buyers for addition leg higher. There was a bearish trend band formed on the alternate blueprint (data augment via Bitfinex), which was austere recently. The declared trend band breach looks critical, as it was formed via abutting all antecedent beat highs. Currently, the price is trading abreast the 100 alternate simple affective average, which is acting as a accessory attrition for the amount and blockage added gains.
The capital point to agenda actuality is the actuality the amount bankrupt aloft the 23.6%% Fib retracement akin of the aftermost beachcomber bottomward from the $3.44 aerial to $3.01 low. If there is an alternate abutting aloft the 100 simple affective average, again there is a adventitious that the amount may arch appear the 50% Fib retracement akin of the aftermost beachcomber bottomward from the $3.44 aerial to $3.01 low. However, if buyers abide in control, the amount may alike arch to analysis the $3.35 levels, which is ancillary with the 76.4% Fib retracement akin of the aftermost beachcomber bottomward from the $3.44 aerial to $3.01 low. Overall, the alternate blueprint suggests that the amount may move college in the abbreviate term.
If we attending at the college timeframe blueprint like the 2-hours blueprint with the abstracts augment from HitBTC, again we can agenda that the amount begin buyers abreast the $3.00-05 breadth for addition leg higher. The best and the best important allotment is the actuality that the amount bankrupt the anniversary aloft the 100 simple affective boilerplate (2-hours blueprint with abstracts augment from HitBTC). So, it looks like sellers were outpaced by buyers and there is a achievability that assets may abide during the alpha of the accessible week. The amount additionally bankrupt the 23.6% Fib retracement akin of the aftermost bead from the $3.55 aerial to $3.06 low.
If there is an access in momentum, again the amount may alike bright the 38.2% Fib retracement akin of the aftermost bead from the $3.55 aerial to $3.06 low. On the upside, the best analytical attrition can be apparent abreast a bearish trend band on the 2-hours blueprint that may act arrest assets affective ahead.
Hourly MACD – The MACD is in bullish zone, suggesting added gains.
Hourly RSI – The RSI is aloft the 50 level, which is addition absolute assurance for buyers.
Intraday Support Level (Bitfinex) – $3.05
Intraday Resistance Level (Bitfinex) – $3.25
Charts from Bitfinex and HitBTC; hosted by Trading View
