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[Litecoin]
The EMA(50) which positioned below the EMA(200) forming a Death Cross, along with the appearance of a Bearish Divergence on the RSI(14), confirms that today Litecoin has the potential to continue its bearish bias.
Key Levels
1. Resistance. 2 : 88.05
2. Resistance. 1 : 85.64
3. Pivot : 82.97
4. Support. 1 : 80.56
5. Support. 2 : 77.89
Tactical Scenario:
Pressure Zone: If the price of Litecoin breaks down below 80.56, it has the potential to test the 77.89 level.
Momentum Extension Bias: If 77.89 is broken, there is potential for it to move to 75.48.
Invalidation Level / Bias Revision:
The downside bias is contained if the price of Litecoin rises above 88.05.
Technical Summary:
EMA(50) : 82.39
EMA(200): 82.96
RSI(14) : 53.34 + Bearish Divergent
Economic News Release Agenda:
Tonight, there are no economic data releases from the U.S. session.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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