Structure: The beginning of Sept saw the coin have Double Top Pattern leading to 6th, 10th to 13th saw the coin break a major Support around 0.008602. The price later rose but fell again in the 18th, where the Support served as a Resistance. There was a breakout through a higher Resistance intraday 27th which made a Bull Flag, from there on the price has had a downtrend.
Hypothesis: Just recently, SFOX, a cryptocurrency prime dealer made litecoin the fourth cryptocurrency listed on its platform in response to demand from its institutional client base. This will in the Long term boost the user-base of Litecoin evevn adding to its price on the Market. In the Shorter time frame, following the recent downtrend, there should be a rise in price soon as the bar is just about to hit a major Support.
Confirmation: Both EMAs (200) and (50) are currently above the price bar due to the recent downtrend. The BB and RSI show that price just recently hit the lower band and limit which is also the Support. For these reasons I recommend going Long, so as to earn profit in price rise over the weekend.
Entry $0.008806
SL $0.008689
TP $0.009148
Hypothesis: Just recently, SFOX, a cryptocurrency prime dealer made litecoin the fourth cryptocurrency listed on its platform in response to demand from its institutional client base. This will in the Long term boost the user-base of Litecoin evevn adding to its price on the Market. In the Shorter time frame, following the recent downtrend, there should be a rise in price soon as the bar is just about to hit a major Support.
Confirmation: Both EMAs (200) and (50) are currently above the price bar due to the recent downtrend. The BB and RSI show that price just recently hit the lower band and limit which is also the Support. For these reasons I recommend going Long, so as to earn profit in price rise over the weekend.
Entry $0.008806
SL $0.008689
TP $0.009148
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.