THELOGICALINDIAN - Key Highlights
Litecoin amount afterwards ambience a concise top about $1.94 adapted lower sharply. It beneath added than 15% to barter abreast $1.60. The amount alike broken the 61.8% Fib retracement akin of the aftermost leg from the $1.44 low to $1.94 high, and begin abutment aloof aloft the 76.4% Fib level. There was a move beneath the 100 simple affective boilerplate on the 4-hours chart, but after recovered acutely to barter aback aloft it.
There is a above bullish trend band formed on the 4-hours blueprint of Litecoin, which is acting as a abutment in the abreast term. The Lower Bollinger Band is additionally arena its part, and allowance buyers. The best important point is that the amount is accurate by the Middle Bollinger Band, and if it clears the $1.80 level, added upsides are accessible affective ahead.
100 SMA as Pivot
As continued as the amount is aloft the 100 SMA the affairs of the amount affective college is added compared with a breach lower. We charge not balloon that $1.50 is a monster abutment on the downside, which is a barrier for sellers. A breach beneath the accent trend band ability burn a move appear the $1.50 abutment area.
Intraday Support Level – $1.70
Intraday Resistance Level – $1.80
On the upside, there is a analytical attrition formed about $1.80, which ability arrest the upside in the abreast term. A breach aloft the declared akin could set the amount for a retest of $1.94. Any added assets should be bound because the accepted bazaar sentiment. The 4H RSI is aloft the 50 level, which is a absolute assurance in the abreast future.
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