The primary view of this commerce thought is on the 2-Hour Chart. The cryptocurrency Litecoin (LTC) has been channeling increased. The help was constructed utilizing the help at 140 and the upper low at round 163.75. The resistance line was arrange utilizing the 172.75 excessive and the 187.50 increased excessive. Expectations are for the cryptocurrency to retest the 200 worth degree, a psychological degree of resistance.
Technical Indicators
LTC had constructive crossovers on its quick (50-MA), medium (100-MA) and lengthy (200-MA) fractal shifting averages. The cryptocurrency is at the moment buying and selling above all shifting averages. To enhance the bullish transfer, the RSI is buying and selling above 50 and there was a constructive crossover on the KST .
Advice
The advice shall be to go lengthy at market, with a cease loss at 163.75 and a goal of 200. This produces a threat/reward ratio of 1.20.
Disclaimer
The views expressed are mine and don’t symbolize the views of my employers and enterprise companions. Individuals appearing on these suggestions are doing so at their very own threat. These suggestions are usually not a solicitation to purchase or to promote however are for purely dialogue functions. Presently I’ve a place in LTC.
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