LTC/USD traded lower yesterday, breaking below $141.50, which is the lower end of the sideways range that had been containing the price action since December 5th. Although the rate has paused for now near the $131.40 level, the dip below $141.50 has turned the outlook from neutral to bearish in the experts' view. A clear break below $131.40 could pave the way towards the $122.00 zone, marked by the inside swing high from July, the break of which could extend the fall towards the low of that day, at around $113.00. If the bears are not willing to stop there either, we could see them pushing the action towards the price levels around $103.20.
The bulls will be awakened if the price starts examining upon a break above the 166.00 hurdle, which is the upper bound of the range. This will confirm a forthcoming higher high on the daily chart and may set the stage for extensions towards the 189.50 zone, the break of which could extend the advance towards the 199.00 zones. Another break, above 199.00 may allow the bulls to test the high of December 3rd, at 208.00.
Looking at our oscillator indicators we can notice that MACD lies below zero line and RSI fell back below its 30 oversold zones.
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The bulls will be awakened if the price starts examining upon a break above the 166.00 hurdle, which is the upper bound of the range. This will confirm a forthcoming higher high on the daily chart and may set the stage for extensions towards the 189.50 zone, the break of which could extend the advance towards the 199.00 zones. Another break, above 199.00 may allow the bulls to test the high of December 3rd, at 208.00.
Looking at our oscillator indicators we can notice that MACD lies below zero line and RSI fell back below its 30 oversold zones.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
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.
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.