All ready: Litecoin may rise this week
Source:
Looks Like Litecoin soon jumps again to the delight of investors. Seventh by market capitalization in the morning, the cryptocurrency is trading at 32$. While her schedule looks very promising so AMBCrypto experts recommend to closely follow the coin in the coming days.
theTechnical analysis
LTC has got unexpected popularity in Korea — it is there now comes 25 per cent of the trading volume of the cryptocurrency. Most active traders trade on the Korean stock exchange Coinbit in a pair of Litecoin with the Korean won. Second place in trading volume — exchange DOBI Trade. In the last 24 hours fell 2 percent, however, on the scale of one week, the coin grew by 5.25 per cent.
On the 1 hour chart there are two important lines that are now worth watching all the market players. The first is the uptrend, which stretches from 27 to 31 dollars. The second is the downtrend that runs from 41 to 33 dollars. While the nearest support line in the area of $ 27 to withstand the onslaught of the bears. For sustainable growth in the medium term, buyers need to push price above resistance near $ 35.
image Source — AMBCrypto
While this scenario contribute to the readings of technical indicators. Held on MACD bullish crossover, the RSI also indicates growth.
1-daily chart the situation is not so rosy. Litecoin is still in a protracted fall that is not going to end. The downtrend line stretching from 125 to 34 dollars. The nearest support level is $ 28. While the most serious resistance lines at this scale are zones 62 and $ 100.
image Source — AMBCrypto
Will there be a rebound soon? Judging by the technical indicators, Yes. The Parabolic SAR indicates a gradual transition to a bullish trend, while the Relative Vigor Index recently completed a bullish crossover.
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