DLavrov

Litecoin Market Overview

POLONIEX:LTCUSDT   Litecoin / Tether USD
The market keeps movement in the borders of the ascending price channel . Now we have a situation confirming price reversal from the middle line of the channel. The reversal candlestick pattern and RSI reversal in the overbought zone tell us that the market is ready to downward movement. The price has potential to drop to the support zone formed by the trend line and 55.00 support level . If so, we'll have to wait for a new reversal signal at this zone and open long trades based on it. For confirmation upward movement from the current levels, the price will have to move above 65.00 and the middle line. The market will have free space for price movement to the up line of the channel and 80.00 resistance level .
Komen: and one more thing, I still can't reply in comments below of my post. But I read all your comments )
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My name is Sanya and I am always following your analysis. It has helped me a lot in my learning to be a successful trader. Thanks

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Balas
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