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12.07.202405:48 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday July 12 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 12.07.2024 analysis

By looking at the price movement of the Litecoin cryptocurrency on the 4-hour chart which managed to broken above the EMA 20 & EMA 50 and move in a channel that is going upwards and is also confirmed by the appearance of the Bullish 123 pattern which is followed by the appearance of the Bullish Ross Hook (RH), then in time near Litecoin has the potential to be corrected to strengthen the level of 68.30. It will try to be penetrated upwards. If this level is successfully broken, Litecoin will try to test 70.27 as the main target that will be tested and if the momentum and volatility are supportive then the level of 72.27 will be the next target to be aimed at, but if it is on its way towards the targets previously outlined, Litecoin suddenly returns to its initial bias and broken below the 62.18 level, then all the strengthening correction scenarios that have been outlined will become invalid and automatically cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

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