The primary view of this commerce concept is on the 2-Hour Chart. The cryptocurrency Litecoin (LTC) has been channeling increased. The assist was constructed utilizing the assist 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 value degree, a psychological degree of resistance.
Technical Indicators
LTC had optimistic crossovers on its brief (50-MA), medium (100-MA) and lengthy (200-MA) fractal shifting averages. The cryptocurrency is at present buying and selling above all shifting averages. To enrich the bullish transfer, the RSI is buying and selling above 50 and there was a optimistic crossover on the KST .
Advice
The advice can be to go lengthy at market, with a cease loss at 163.75 and a goal of 200. This produces a danger/reward ratio of 1.20.
Disclaimer
The views expressed are mine and don’t symbolize the views of my employers and enterprise companions. Individuals performing on these suggestions are doing so at their very own danger. These suggestions will not be a solicitation to purchase or to promote however are for purely dialogue functions. At present I’ve a place in LTC.
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