Crypto Analysis Report 3-14-18 Litecoin Testing The Buyers At $160 Again
Big Picture - Litecoin in a downtrend on the daily chart.
Lets zoom down to the 4 hr chart. Price found buyers at $160 (orange circle) and reacted to that level (white circle). Price is testing this level once again currently....a double bottom formation. I anticipate price to go deeper into the zone as there might not be any more buy orders at the $150-$160 level.
If price breaks $140, look for price to go down and test buyers at $110. In for price to move up to the daily supply zone at $220, price must get pass the $190 level. I think the direction of Litecoin will need help from Bitcoin which is range bound between $8400 and $10000 (the no trading zone) at the moment. See my recent post on Bitcoin below.
Buyers At $8400 and Sellers At $10000
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
