Litecoin (LTCBTC) Day Analysis. TEST at 200 EMA.
Previous Analysis:
1. Pennant with Price Target at 0.005824
Current Analysis:
1. The price is now hitting 200 EMA and previous support and resistant at 0.005476. (strong resistant line)
2. Voume increasing. (notice that each of green candle show increasing in volume). it show that the buying momentum is increasing.
3. RSI is over 60 and getting near to overbought area so it didnt do much.
4. MACD oscilator crossover above histogram but still below 200EMA. sign of reversal is still very weak.
Conclusion:
Most of trader will take profits at 200EMA line. so buying momentum will drop. as long buying power is high demand, the price will continue goes up to previous target at 0.005824 from pennant. expect some pull back to 200EMA after reached the price target. Trade with cautious until confirmation on the direction is clear.
1. Pennant with Price Target at 0.005824
Current Analysis:
1. The price is now hitting 200 EMA and previous support and resistant at 0.005476. (strong resistant line)
2. Voume increasing. (notice that each of green candle show increasing in volume). it show that the buying momentum is increasing.
3. RSI is over 60 and getting near to overbought area so it didnt do much.
4. MACD oscilator crossover above histogram but still below 200EMA. sign of reversal is still very weak.
Conclusion:
Most of trader will take profits at 200EMA line. so buying momentum will drop. as long buying power is high demand, the price will continue goes up to previous target at 0.005824 from pennant. expect some pull back to 200EMA after reached the price target. Trade with cautious until confirmation on the direction is clear.
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