Litecoin (LTC) has been trading in the overbought zone for the past 48 hours. Sellers have emerged to push prices lower. Litecoin is falling as it breaks below the 21-day line SMA.
A break below the moving averages will force the altcoin to fall to the $154 low. At the $154 support, the altcoin will resume its upward movement if the support holds. Otherwise, selling pressure will resume and the price will fall to the low of $146. The uptrend will resume if the current support holds.
Analiza indicatorului Litecoin
Despite the recent decline, the crypto price is above the moving averages, which indicates that altcoin is in the uptrend zone. The cryptocurrency is at level 67 of the Relative Strength Index for period 14, which means that the LTC price is approaching the overbought zone at level 70. The 21-day and 50-day SMAs are sloping downward, indicating a downtrend.
Tehnice de indicatori:
Niveluri majore de rezistență - 500 USD și 540 USD
Niveluri majore de asistență - 120 USD și 80 USD
Care este următoarea mișcare pentru Litecoin?
Litecoin is in a downtrend. The altcoin has retraced to the low of $160 to resume consolidation below the recent high. Meanwhile, on August 9 uptrend, a retreating candle tested the 78.6% Fibonacci retracement level. This retracement suggests that the market will rise but reverse at the 1.272 Fibonacci extension level or the $177.42 level.
Disclaimer. Această analiză și prognoză sunt opiniile personale ale autorului nu sunt o recomandare pentru a cumpăra sau vinde criptomonedă și nu ar trebui privite ca o aprobare de către CoinIdol. Cititorii ar trebui să facă propriile lor cercetări înainte de a investi fonduri.
Source: https://coinidol.com/litecoin-overbought-region-170/