LTC Downey
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12/06/2018
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Trend is your friend



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Litecoin continues to drift lower in early Tuesday trade, with the ninth largest cryptocurrency by market capitalization recently hitting a fresh 2018 trading low, at $21.90. The psychological $20.00 support level is now coming into focus, despite the RSI and MACD indicators being extremely oversold on the daily time frame. If buyers can create a bullish double-bottom, a short-term relief rally towards the $27.00 would then seem possible. The LTCUSD pair is strongly bearish while trading below the $27.00 level, key support is found at the $21.90 and the $20.00 levels. If the LTCUSD pair moves above the $25.00, buyers may test the $27.00 and $30.00 resistance levels.

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LTCUSD is approaching our first support at 23.09 (100% Fibonacci extension, horizontal swing low support) where a strong bounce might occur above this level pushing price to our major resistance at 27.71 (61.8% fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is testing our support and we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

LTCUSD - status
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Hi, all. Nothing positive yet for Litecoin. Waiting for some signs of life. 5 Bands show 5 signals. the lines are simply to show the bands. Band5 at top is slowest reacting, Band1 is quickest. See band current color, if green then bullish. Use one, some, or all bands. Not trading advice. For education only.

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