Dear all! Its been an amazing week in the crypto world and Litecoin is no exception though it hasn't has dramatic moved compare to some other coins. Usually my posts are a bit long winded but this time around I will break down my technical analysis into 4 main points.
1. We saw bullish signs over a week ago in term of RSI and a MACD crossover and these indicators were correct in guiding the near future for Litecoin.
2. In terms of the candlestick chart the fact that Litecoin managed to rebound just before we would have seen a 'death-cross' (50 day moving average crossing below the 200 day MA) is amazing plus we are very close to surpassing those two moving averages. Look for the white downward arrow towards the right of the chart
3. Per all the yellow and purple elliptical ovals in the chart signifying the importance of Fibonacci support and resistance levels it is very important we extend past the .618 to establish a firmly bullish framework.
4. Volume validates the authenticity of movements up and down. Per four magenta lines on the graph we've seen upward spikes in volume which led only to decreased volume and a subsequent decline in price. Per the most recent volume (indicated by a green upward sloping line) we have seen both volume and price increasing- very bullish.
I am anticipating that we may face resistance at 150 for a reason not evident in this chart and potentially retrace back moderately towards the low 140s before continuing back up. Please give a like if you found this info useful, thanks!
1. We saw bullish signs over a week ago in term of RSI and a MACD crossover and these indicators were correct in guiding the near future for Litecoin.
2. In terms of the candlestick chart the fact that Litecoin managed to rebound just before we would have seen a 'death-cross' (50 day moving average crossing below the 200 day MA) is amazing plus we are very close to surpassing those two moving averages. Look for the white downward arrow towards the right of the chart
3. Per all the yellow and purple elliptical ovals in the chart signifying the importance of Fibonacci support and resistance levels it is very important we extend past the .618 to establish a firmly bullish framework.
4. Volume validates the authenticity of movements up and down. Per four magenta lines on the graph we've seen upward spikes in volume which led only to decreased volume and a subsequent decline in price. Per the most recent volume (indicated by a green upward sloping line) we have seen both volume and price increasing- very bullish.
I am anticipating that we may face resistance at 150 for a reason not evident in this chart and potentially retrace back moderately towards the low 140s before continuing back up. Please give a like if you found this info useful, thanks!
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.