Litecoin Price Analysis
Litecoin has seen a lot of growth in recently and looks like has had a small move but doesn't look like it will hold.
Chart parameters
1HR candles
2 week time frame
Fibonacci Retracements
Bollinger bands
EMA & SMA
Stoch Rsi & RSI
Fibonacci Retracements
Moving between 71.80% and 61.80% and looks to have just broken past 71.80%
Bollinger bands
Bollinger bands had been narrowing and have opened up significantly
EMA & SMA
EMA & SMA starting to point upwards
Stoch Rsi & RSI
Stoch RSI at 0.74 and RSI at 70.77 signals somewhat overbought
Conclusion
- 71.80% is key level to break above and would need to hold for a day or see a large uptick in volume to continue uptrend
- Bollinger bands signaling incoming volatility
- EMA & SMA signalling upward trend
- Stoch RSI and RSI showing overbought
It looks like it is the beginning of an uptrend but would caution entering any trades until volume picks up or price holds above $350
Chart Indicators supporting material
1HR candles How Many Candles Should be Viewed on a Chart?
2 week time frame Choosing the Best Chart Time Frame
Fibonacci Retracements : stockcharts.com
Bollinger bands : The Basics Of Bollinger Bands
EMA & SMA Moving Averages - Simple and Exponential
Stoch Rsi & RSI investopedia.com
Trading anything there is always a risk,dont trade more than you can afford to lose.
The information contained is to help formulate a trading strategy always do your due diligence on research and consult multiple viewpoints and opinions before entering any trade.