06.09.202409:30 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday September 06, 2024.

Relevance up to 22:00 2024-09-06 UTC--4

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.

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)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade