Litecoin Intraday: the RSI is overbought
Nov 29, 2024 8:51 PM
the upside prevails as long as 99.9 is support.
Our pivot point stands at 99.9.
Our preference:
the upside prevails as long as 99.9 is support.
Alternative scenario:
the downside breakout of 99.9 would call for 97.3 and 95.7.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.1 and 97.6).
Supports and resistances:
110.7 **
109.1 *
107.5 **
105.9
102.7 last
101.0
99.9 **
97.3 *
95.7 **
Our preference:
the upside prevails as long as 99.9 is support.
Alternative scenario:
the downside breakout of 99.9 would call for 97.3 and 95.7.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 100.1 and 97.6).
Supports and resistances:
110.7 **
109.1 *
107.5 **
105.9
102.7 last
101.0
99.9 **
97.3 *
95.7 **
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Litecoin
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