The main scale flashes a rare sale signal for Litecoin (LTC) – Is the collapse disrupted?
The price of Litecoin may reach a turning point after a signal signal when a possible decline in the short term. On the 3 -day chart, the TD Serial Index just a rare sale signal, according to Crypto Ali. This comes after a powerful rare LTC from less than $ 70 to $ 105 in just a few weeks.
Currently, Litecoin is trading about $ 100.33, which indicates an increase of 3 % during the past day. Martinez shared in a tweet that the sign may mean that a correction will come soon, especially with LTC sitting near a major resistance area that hindered the price before.
The sale sign appears as the price of Litecoin strikes fibonacci resistance
The TD series is widely used to determine the exhaustion. On the Litecoin graph for 3 days, the number of “9” that caused alignment with a rejection near the extension level of 1.0 Fibonacci is about $ 105.86. This field was a short -term resistance, confirmed by a decreased candlestick after the price tested this level.
The price procedure shows that the LTC price has increased steadily, which is its highest level and its highest level in several sessions. This step brought Litecoin to test and reject the Fibonacci 1.0, which now stands as an immediate resistance.
Moreover, if Litecoin fails to maintain current levels, many Vibonacci regression areas can be support. The closest support lies at $ 94.60, followed by $ 89.17. These levels coincide with 0.618 and 0.5 Fibonacci, respectively.
The deepest decline may target an area of 83 to 90 dollars, as a set of Fibonacci levels has been formed during the previous accumulation. This area can attract the purchase interest if the correction extends.
Litecoin momentum slows down, but the structure of trend is still sound
While the TD serial signal indicates caution, the broader market Litecoin price structure remains sound. As long as the price remains higher than the main support levels, the upward trend may resume.
Analysts and merchants monitor how LTC behaves near the area from 94 to $ 100. A strong comment may be provided over these areas, to pay another to the extension level of $ 114.46. Until then, the current landing signal offers a short -hour period.
Litecoin (LTC) is in line with the analyst’s warning
The graph shared by the last Fibonacci framework for the last Litecoin Breakout. It draws attention to the integrity of the technical resistance and the number of “9” series TD to potential fatigue. The market tests current support levels, which may soon lead to price fluctuations.
The following few trading days will decide whether the price of Litecoin decreases further or finds stability and starts climbing again.
Also read: ONYXCOIN (XCN) pumps: Here is what has just raised the boom
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