Our technical analysis on LITECOIN/US will focus on the 2 indicators we added to the above chart.
Stochastic-This indicator knows how to find such trends by a mathematical formula invented by George Lane (briefly on the indicator) as you can see we are currently in the 80 range that's a range of being overbought
Ichimoku- this is an indicator for finds trends and not in order to find corrections that the market can make.
According to the above indicator, On the daily chart, we are on a rising trend as the price of the LITECOIN is above the clouds and is accompanied by a rising green cloud. On the weekly and monthly charts,The trend is still declining and the Litcoin will have to continue the rises consistently to change this trend as well.
In conclusion
The trend formed on the daily LTCUSD chart is an upward trend but we have reached overbought signals and therefore we recommend a sell signal
Sell LIRECOIN:
Entry price:86.68
Take Profit: 65
Stop Loss:100
Stochastic-This indicator knows how to find such trends by a mathematical formula invented by George Lane (briefly on the indicator) as you can see we are currently in the 80 range that's a range of being overbought
Ichimoku- this is an indicator for finds trends and not in order to find corrections that the market can make.
According to the above indicator, On the daily chart, we are on a rising trend as the price of the LITECOIN is above the clouds and is accompanied by a rising green cloud. On the weekly and monthly charts,The trend is still declining and the Litcoin will have to continue the rises consistently to change this trend as well.
In conclusion
The trend formed on the daily LTCUSD chart is an upward trend but we have reached overbought signals and therefore we recommend a sell signal
Sell LIRECOIN:
Entry price:86.68
Take Profit: 65
Stop Loss:100
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.