Technical Analysis of Daily Price Movement of Litecoin Cryptocurrency, Friday June 23, 2023.
June 23, 2023 6:26 am
Litecoin cyrptocurrency on its daily chart seems moving inside the Sideways conditions and ranging. This shows that there is a fight between Bull vs Bear which is quite balanced between buyers and sellers which is quite comparable even so from several confirmations such as the 3×3 DMA indicator which is below the price movement and dipping upwards indicating that in the near future Litecoin will try to go to the Resistance level of 93.69 and if the momentum and the volatility is quite strong, so it is not impossible that #LTC will move towards the 100.86 level. However, you need to be aware of the appearance of hidden deviations between price movements and the Stochastic Oscillator indicator which also happens to be above the Overbought level so that it has the potential for a downward correction but during a correction it does not exceed below the level of 74.90, so the scenario of a bullish rally described earlier is still valid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin cyrptocurrency on its daily chart seems moving inside the Sideways conditions and ranging. This shows that there is a fight between Bull vs Bear which is quite balanced between buyers and sellers which is quite comparable even so from several confirmations such as the 3×3 DMA indicator which is below the price movement and dipping upwards indicating that in the near future Litecoin will try to go to the Resistance level of 93.69 and if the momentum and the volatility is quite strong, so it is not impossible that #LTC will move towards the 100.86 level. However, you need to be aware of the appearance of hidden deviations between price movements and the Stochastic Oscillator indicator which also happens to be above the Overbought level so that it has the potential for a downward correction but during a correction it does not exceed below the level of 74.90, so the scenario of a bullish rally described earlier is still valid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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