Litecoin Intraday: below its lower Bollinger band
Litecoin (LTC/USD)
-6.05-4.77%
the downside prevails as long as 123.7 is resistance.
123.7 is our pivot point.
Our preference: the downside prevails as long as 123.7 is resistance.
Alternative scenario: the upside breakout of 123.7, would call for 127.5 and 129.7.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 124.3 and 126.6). Finally, the Litecoin / Dollar has penetrated its lower Bollinger band (119.9).
Supports and resistances:
129.7 **
127.5 *
123.7 **
122.2
119.5 last
113.6
111.4 **
109.2 *
107.0 **
Our preference: the downside prevails as long as 123.7 is resistance.
Alternative scenario: the upside breakout of 123.7, would call for 127.5 and 129.7.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 124.3 and 126.6). Finally, the Litecoin / Dollar has penetrated its lower Bollinger band (119.9).
Supports and resistances:
129.7 **
127.5 *
123.7 **
122.2
119.5 last
113.6
111.4 **
109.2 *
107.0 **
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