Litecoin: LTCUSD Far Eastern Interest Returns
Timings on LTC show strong far East interest re-emerging.
That surge of green on 14th began at midnight gmt/19:00est
just before markets opened up as early birds caught the worm
and price began to fly high through two lines of old resistance
before topping out at the 233 line, at 21:00est just 30 or so
minutes after far Eastern markets had all opened are strong
clues. These markets are still in overall control of this coin
and their returning interest has to be good for LTC longer
term.
But in shorter term Litecoin is unwinding an overbought
condition by trading sideways in the range dominated by
resistance at 233-237 at the top and two lines of support at
215 and 207 at the bottom of the range. But very nearterm
support lies at 223 which must hold if it's to avoid rinsing off
back to 216-215 during the course of the day if buying interest
continues to wane - and may get forced back to 207-206 at
worst if 215 in turn gives way later today - but if so look to
add as these levels are touched in the quiet period leading up
to midnight gmt/19:00est. Alternatively, should these lower
levels not get touched and LTC can hold up all day at 223 and
above it can be bought on a successful breach of the little
dynamic resistance line running above price on this chart with
stops below the same line, just under 223 if the break occurs
sooner than midnight gmt/19:00est.
Timings on LTC show strong far East interest re-emerging.
That surge of green on 14th began at midnight gmt/19:00est
just before markets opened up as early birds caught the worm
and price began to fly high through two lines of old resistance
before topping out at the 233 line, at 21:00est just 30 or so
minutes after far Eastern markets had all opened are strong
clues. These markets are still in overall control of this coin
and their returning interest has to be good for LTC longer
term.
But in shorter term Litecoin is unwinding an overbought
condition by trading sideways in the range dominated by
resistance at 233-237 at the top and two lines of support at
215 and 207 at the bottom of the range. But very nearterm
support lies at 223 which must hold if it's to avoid rinsing off
back to 216-215 during the course of the day if buying interest
continues to wane - and may get forced back to 207-206 at
worst if 215 in turn gives way later today - but if so look to
add as these levels are touched in the quiet period leading up
to midnight gmt/19:00est. Alternatively, should these lower
levels not get touched and LTC can hold up all day at 223 and
above it can be bought on a successful breach of the little
dynamic resistance line running above price on this chart with
stops below the same line, just under 223 if the break occurs
sooner than midnight gmt/19:00est.