With all technical indicators condition which shows weakness, the Litecoin cryptocurrency has the potential to move toward

[Ben Graham]

[Litecoin]

The EMA(50) which positioned below the EMA(200) forming a Death Cross, along with the appearance of a Bearish Divergence on the RSI(14), confirms that today Litecoin has the potential to continue its bearish bias.

Key Levels

1. Resistance. 2 : 88.05

2. Resistance. 1 : 85.64

3. Pivot : 82.97

4. Support. 1 : 80.56

5. Support. 2 : 77.89

Tactical Scenario:

Pressure Zone: If the price of Litecoin breaks down below 80.56, it has the potential to test the 77.89 level.

Momentum Extension Bias: If 77.89 is broken, there is potential for it to move to 75.48.

Invalidation Level / Bias Revision:

The downside bias is contained if the price of Litecoin rises above 88.05.

Technical Summary:

EMA(50) : 82.39

EMA(200): 82.96

RSI(14) : 53.34 + Bearish Divergent

Economic News Release Agenda:

Tonight, there are no economic data releases from the U.S. session.

The material has been provided by InstaForex Company - www.instaforex.com