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
) 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