Litecoin Intraday: the downside prevails as long as 130.5 is resistance
Jan 18, 2025 7:50 AM
the downside prevails as long as 130.5 is resistance.
Our pivot point is at 130.5.
Our preference:
the downside prevails as long as 130.5 is resistance.
Alternative scenario:
above 130.5, look for 134.5 and 136.9.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 132 and 134.7).
Supports and resistances:
136.9 **
134.5 *
130.5 **
128.9
125.5 last
120.8
118.5 **
116.1 *
113.8 **
Our preference:
the downside prevails as long as 130.5 is resistance.
Alternative scenario:
above 130.5, look for 134.5 and 136.9.
Comment:
the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 132 and 134.7).
Supports and resistances:
136.9 **
134.5 *
130.5 **
128.9
125.5 last
120.8
118.5 **
116.1 *
113.8 **
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Litecoin
126.48
3.19
+2.59%