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LITECOIN
With the Golden Cross condition on both EMAs, it is confirmed that Litecoin has the potential today to strengthen and test its nearest resistance level.
Key Levels
1. Resistance. 2 : 57.70
2. Resistance. 1 : 56.88
3. Pivot : 55.73
4. Support. 1 : 54.91
5. Support. 2 : 53.76
Tactical Scenario
Positive Reaction Zone: If the price holds at 55.73, there is a likelihood that Litecoin will move up toward 56.88.
Momentum Extension Bias: If 56.88 is broken, Litecoin could test 57.70.
Invalidation Level / Bias Revision
The upside bias is restrained if the price weakens and breaks down below 53.76.
Technical Summary
EMA(50) : 55.67
EMA(200): 54.90
RSI(14) : 45.83
Economic News Release Agenda:
From the United States throughout today there was no release of any economic data apart from the IMF Meeting.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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