LTC/USD Technical Analysis – 30th April 2014
Wow, the bulls of Litecoin have really stamped their authority today, after the struggle to establish a clear direction for this week.
In my last LTC/USD technical analysis, I posted the following chart:
I explained that, after the downtrend, I felt,
"We may see some retracement here, since there is a corroboration for our oversold Stochastics, in that both the AC and the AO have turned green."
Although,
"there may be some ranging for the next few hours."
And the market did precisely that, eventually retracing to the 50% line, as can be seen below, circled in red (click to expand):
In addition, the 50% is a psychological round number of 11, thus providing further resistance.
Right now, price has just dropped back down to the 38.2% Fibonacci retracement line, and if you look at the Stochastic Oscillator, it just about to turn back down from an overbought position. I strongly suspect the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator will turn red by tomorrow as well, by which time we may well see break below 38.2%.
Wow, the bulls of Litecoin have really stamped their authority today, after the struggle to establish a clear direction for this week.
In my last LTC/USD technical analysis, I posted the following chart:
I explained that, after the downtrend, I felt,
"We may see some retracement here, since there is a corroboration for our oversold Stochastics, in that both the AC and the AO have turned green."
Although,
"there may be some ranging for the next few hours."
And the market did precisely that, eventually retracing to the 50% line, as can be seen below, circled in red (click to expand):
In addition, the 50% is a psychological round number of 11, thus providing further resistance.
Right now, price has just dropped back down to the 38.2% Fibonacci retracement line, and if you look at the Stochastic Oscillator, it just about to turn back down from an overbought position. I strongly suspect the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator will turn red by tomorrow as well, by which time we may well see break below 38.2%.