Litecoin Intraday: the RSI is overbought
Litecoin (LTC/USD)
-0.18-0.18%
the upside prevails as long as 95.8 is support.
95.8 is our pivot point.
Our preference: the upside prevails as long as 95.8 is support.
Alternative scenario: below 95.8, expect 93.1 and 91.4.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 96.1 and 95.4). Finally, the Litecoin / Dollar has crossed above its upper Bollinger band (97.8).
Supports and resistances:
106.4 **
104.8 *
103.2 **
101.5
98.3 last
96.8
95.8 **
93.1 *
91.4 **
Our preference: the upside prevails as long as 95.8 is support.
Alternative scenario: below 95.8, expect 93.1 and 91.4.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 96.1 and 95.4). Finally, the Litecoin / Dollar has crossed above its upper Bollinger band (97.8).
Supports and resistances:
106.4 **
104.8 *
103.2 **
101.5
98.3 last
96.8
95.8 **
93.1 *
91.4 **
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