Litecoin Intraday: the upside prevails as long as 77.4 is support
Litecoin (LTC/USD)
+0.33+0.42%
the upside prevails as long as 77.4 is support.
Our pivot point stands at 77.4.
Our preference: the upside prevails as long as 77.4 is support.
Alternative scenario: below 77.4, expect 75.2 and 73.9.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 78.4 and 77.6).
Supports and resistances:
85.8 **
84.5 *
83.2 **
81.9
79.2 last
78.2
77.4 **
75.2 *
73.9 **
Our preference: the upside prevails as long as 77.4 is support.
Alternative scenario: below 77.4, expect 75.2 and 73.9.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 78.4 and 77.6).
Supports and resistances:
85.8 **
84.5 *
83.2 **
81.9
79.2 last
78.2
77.4 **
75.2 *
73.9 **
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