LTCUSD Intraday Technicals
Litecoin is trading above $59 level in the intraday chart.
Between $59 and $69 is a choppy range area and we need a momentum from Litecoin to move up.
I expect more volatility from the US market opening and will be interested in Litecoin price action in this range area.
I will consider the following scenarios.
Scenario 1. A re-test and rejection of $59 with a strong price action will make Litecoin more bullish, however below $69 is a choppy range area.
Scenario 2. Below $50, Litecoin is bearish and will move towards $34-$44 area.
Scenario 3. A deep below and a strong rejection of $59 with momentum will make Litecoin bearish towards $34-$44 area, however above $50 is a choppy range area.
Between $59 and $69 is a choppy range area and we need a momentum from Litecoin to move up.
I expect more volatility from the US market opening and will be interested in Litecoin price action in this range area.
I will consider the following scenarios.
Scenario 1. A re-test and rejection of $59 with a strong price action will make Litecoin more bullish, however below $69 is a choppy range area.
Scenario 2. Below $50, Litecoin is bearish and will move towards $34-$44 area.
Scenario 3. A deep below and a strong rejection of $59 with momentum will make Litecoin bearish towards $34-$44 area, however above $50 is a choppy range area.
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