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LITECOIN
If we look at both EMAs forming a Death Cross intersection and RSI(14) indicator in the Neutral-Bearish level, then Today Litecoin has the potential to continue its weakening toward the nearest support level.
Key Levels
1. Resistance. 2 : 53.77
2. Resistance. 1 : 53.23
3. Pivot : 52.57
4. Support. 1 : 52.03
5. Support. 2 : 51.37
Tactical Scenario
Pressure Zone: If 52.57 is broken down, there is potential for continued weakness toward 52.03.
Momentum Extension Bias: If 52.03 is also breached, Litecoin could continue weakening to test 50.83.
Invalidation Level / Bias Revision
The downside bias is restrained if the price strengthens and breaks above 53.77.
Technical Summary
EMA(50) : 52.74
EMA(200): 53.14
RSI(14) : 39.39
Economic News Release Agenda:
From the United States the following economic data will be released:
US - HPI m/m - 20:00 WIB
US - S&P/CS Composite-20 HPI y/y - 20:00 WIB
US - CB Consumer Confidence - 20:00 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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