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Litecoin Intraday: the RSI is overbought

Jan 17, 2025 5:05 AM
the upside prevails as long as 132.9 is support.
image
132.9 is our pivot point.
Our preference:
the upside prevails as long as 132.9 is support.
Alternative scenario:
the downside breakout of 132.9 would call for 128.6 and 126.
Comment:
the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 128 and 124.1). Finally, the Litecoin / Dollar is trading above its upper Bollinger band (standing at 136.5).
Supports and resistances:
149.7 **
147.1 *
144.6 **
142.0
136.9 last
134.5
132.9 **
128.6 *
126.0 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.

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Litecoin
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-3.82
-3.10%