LTCUSD TA
Some key indicators to note:
ADX showing strong upward momentum
RSI looking overbought (be careful here)
Strong upward channel, with 50MA (in green) playing a vital role as support.
Expectation: Momentum is strong signalling bullish action. But in the short term, i'd expect to see a pullback to retest the 61% - 78% Fibonacci zone, or the lower bound of this ascending channel. For those going LONG, the 50MA would seem to be a favourable entry point.
Some key indicators to note:
ADX showing strong upward momentum
RSI looking overbought (be careful here)
Strong upward channel, with 50MA (in green) playing a vital role as support.
Expectation: Momentum is strong signalling bullish action. But in the short term, i'd expect to see a pullback to retest the 61% - 78% Fibonacci zone, or the lower bound of this ascending channel. For those going LONG, the 50MA would seem to be a favourable entry point.