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Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday September 06, 2024.
Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday September 06, 2024.
Crypto-currencies
2024-09-06 07:30:01
There are 2 interesting things that we can find on the 4-hour chart of the Litecoin cryptocurrency, first the appearance of a deviation between price movements and the MACD Histogram indicator, second the existence of an Ascending Broadening Wedge pattern so that based on these two facts it can be concluded that in the near future Litecoin has the opportunity to weaken down to level 64.43 if this level is successfully penetrated then Litecoin will continue its weakening back to level 62.07 and if momentum and volatility support then level 59.12 will be the next target, but all these weakening scenarios will be invalid and canceled by themselves if there is a strengthening again that breaks above level 68.50.
(Disclaimer)
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