Litecoin Price Prediction: Will the Third Attempt at Breaking Resistance Be Successful?
A look at the Weekly chart for Litecoin in logarithmic form shows that the price is very close to the support area of $25-$30 formed by the highs of 2014, currently trading at $32. If the support area fails to hold the price, the next one will be found at $5-$6. Price is trading below the 7,21,50,200 moving averages and the Ichimoku cloud. Furthermore, multiple bearish crosses have occurred. However, there is bullish divergence developing in the MACD, which is going up with strength. The RSI was below 30 for a short period, before bouncing to 38. A look at the 3-day chart for Litecoin shows that price is trading just above the 7-period ... (full story)
- Posted: Jan 30, 2019 1:48pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 47