Litecoin Intraday: the RSI is overbought
Litecoin (LTC/USD)
+2.00+2.29%
the upside prevails as long as 85.9 is support.
Our pivot point stands at 85.9.
Our preference: the upside prevails as long as 85.9 is support.
Alternative scenario: below 85.9, expect 84.1 and 82.9.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 85.9 and 84.6).
Supports and resistances:
93.3 **
92.2 *
91.1 **
89.9
87.5 last
86.7
85.9 **
84.1 *
82.9 **
Our preference: the upside prevails as long as 85.9 is support.
Alternative scenario: below 85.9, expect 84.1 and 82.9.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 85.9 and 84.6).
Supports and resistances:
93.3 **
92.2 *
91.1 **
89.9
87.5 last
86.7
85.9 **
84.1 *
82.9 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
