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LITECOIN
It appears that sellers dominate the Litecoin cryptocurrency, as it is confirmed by a Death Cross intersection of both EMAs, so in the near term there is potential to test the nearest support level.
Key Levels
1. Resistance. 2 : 55.36
2. Resistance. 1 : 54.75
3. Pivot : 54.00
4. Support. 1 : 53.39
5. Support. 2 : 52.64
Tactical Scenario
Pressure Zone: If 54.00 is broken down, there is potential for Litecoin's weakness to continue toward 53.39.
Momentum Extension Bias: If 53.39 is also broken, Litecoin could extend its decline to 52.64.
Invalidation Level / Bias Revision
The downside bias is restrained if Litecoin strengthens upwards until it breaks and closes above 55.36.
Technical Summary
EMA(50) : 54.09
EMA(200): 54.40
RSI(14) : 59.27
Economic News Release Agenda:
From the United States the following economic data will be released:
US - Revised UoM Consumer Sentiment - 21:00 WIB
US - CB Leading Index m/m - 21:00 WIB
US - Revised UoM Inflation Expectations - 21:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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