THELOGICALINDIAN - Key Highlights
Litecoin amount afterwards award bids abreast the $3.30 akin traded higher. If buyers breach the accent trend band again a move appear $4.0 is possible.
Litecoin Price – Buy with a break?
Litecoin amount begin bids this accomplished week, and every downside move begin buyers. There was a able abutment formed abreast $3.30, which acted as a barrier for sellers. The amount is currently trading college and attractive for a breach higher. There is a bearish trend band formed on the 4-hours blueprint (data augment via Bitfinex), which is currently acting as a hurdle for added gains.
A analytical point to agenda actuality is that the trend band is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $3.58 aerial to $3.30 low. The RSI is able-bodied aloft the 50 level, calling for added gains. A breach aloft the trend band and attrition breadth could booty the amount appear the 76.4% Fib retracement akin of the aftermost beachcomber from the $3.58 aerial to $3.30 low. The amount may alike arch appear the $3.60 akin if sellers footfall back.
On the downside, an antecedent abutment can be about the $3.40 level, followed by the best important breadth at $3.30.
Looking at the indicators:
4-hours MACD – The MACD is in the bullish zone, which is a absolute assurance for the bulls.
4-hours RSI – The RSI is aloft the 50 level, suggesting buyers are in control.
Intraday Support Level– $3.30
Intraday Resistance Level – $3.45
Charts from Bitfinex; hosted by Trading View
