Bounce on the 200 MA 4hrs chart!

BITFINEX:LTCUSD240

Litecoin / DollarBitfinex

Description

⋅ Nov 26, 2020 9:26 PM

LTC found support from the 200 MA on the 4 hrs chart . On the way back up the 50 MA could act as resistance .

Thanks

Trend Analysis Technical Indicators

Comments

Kokiamoun213

⋅ Nov 27, 2020 1:24 AM

so the price will go less than 65 ?

ayointeractive

⋅ Nov 27, 2020 5:44 AM

@Kokiamoun213, I believe that we already reached the bottom on the 200 MA at 65 and will act as strong support. The price will go up towards 50 MA around 80. If we have strong volume we can pass the 50 MA and continue forward. In case we face resistance we can go back to the bottom part of the channel at 76 and from there another bounce up