Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday October 20, 2023.
October 20, 2023 6:22 am
If we look an the 4 hour chart of Litecoin cryptocurrency, seems like the selling pressure still dominates from that cryptocurrency where this thing seen from future Kumo on the Bear position, Tenkan-sen is below the Kijun-sen as well as the price movement is below the Kumo. But because Chikou Span which is in the middle of the candle indicates the Litecoin condition is entering Sideways condition, so that based on the facts above, in the near future, Litecoin has the potential to continue its weakness up to the level 59,71 as the main target and the level 57,66 as the second target. But if on the way to those level targets suddenly Litecoin corrected above until breaks the level 66,18, then all the downward scenario that has been described before will be invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look an the 4 hour chart of Litecoin cryptocurrency, seems like the selling pressure still dominates from that cryptocurrency where this thing seen from future Kumo on the Bear position, Tenkan-sen is below the Kijun-sen as well as the price movement is below the Kumo. But because Chikou Span which is in the middle of the candle indicates the Litecoin condition is entering Sideways condition, so that based on the facts above, in the near future, Litecoin has the potential to continue its weakness up to the level 59,71 as the main target and the level 57,66 as the second target. But if on the way to those level targets suddenly Litecoin corrected above until breaks the level 66,18, then all the downward scenario that has been described before will be invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: