Litecoin Price Showcasing Unsustainability Above $150

COINBASE:LTCUSD   Litecoin / U.S. Dollar
The technical chart highlights the significant retracement faced by Litecoin price levels forcing it to test the baseline of the retracement table. The levels did have a positive bounceback but currently facing resistance at 0.5fib level. A positive breakout in the form of candle closing above the resistance line can be a confirmed bullish indication for the upcoming trading sessions.

The relative strength index ( RSI ) has retraced back after testing the overbought region but was unable to have a positive breakout. The current level stands at 55.19.

The moving average convergence & divergence ( MACD ) looked vulnerable for a bearish crossover which can again diverge the levels below the histogram line.

The directional movement index (DMI) also showcased bearish nature as ADX took a negative turn and faced negative crossover against -DI .

Resistance Level: $150.00
Support Level: $120.00


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