Perfect occasion to enter Long with a tight SL on Litecoin!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Hi, Traders ! Monfex is on the air !

Litecoin lies in an attractive position: Long trade on a low risk is possible from here.

* Couple of days ago, Litecoin's crew celebrated the 8 years of network running with $500,000,000,000 worth of transactions registered during this period.
* A week ago, Litecoin made an attempt to break out of the consolidation zone, but the bullish endeavor was not backed up by the volume enough to push the price above $60. As a result, LTC pulled back and marked the second bottom around $51. However, RSI did not follow the price movement much, and now shows weak signs of potential divergence.
* At the moment, Litecoins seems to be lying just right on the bottom, so it might be a good opportunity to enter Long with a really tight Stop-loss. But the uptrend will be truly confirmed when the price runs across 21 Daily EMA at $57.50 and breaks above the descending trendline around $59.
* Likewise, if the Bears intensify their activity again and successfully drives the price below $51, the bearish scenario could be resumed and again activated.

Active trade signal

Buy @ $53 - $54.
Target: $75.
Stop-loss: $49.80.

Watch for our Updates to get real-time superior signals!


This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out