Published On: July 7th, 2019Categories: Uncategorized


Litecoin

Litecoin (LTC/USD) continues to try to make advances above the psychologically-important 120.00 figure but continues to be capped around its 50-bar MA (4-hourly), currently indicating around the 121.80 level.  During yesterday’s North American session, the pair traded as high as the 122.29 area but then fell back below the 50-bar MA (4-hourly).  Technicians note that the 121.16 level represents the 61.8% retracement of the move from 182.35 to 22.17, and Stops have been elected around this area previously.

LTC/USD was challenged around the 127.37 area this week, a key area that is around several important retracement levels including the 61.8% retracement of the move from 192.89 to 22.17 and the 23.6% retracement of the 64.86 – 146.00 range. Above current market activity, chartists are eyeing some technical Resistance around the 129 – 133 range, including the 129.83 area that represents the 38.2% retracement of the move from 304.00 to 22.17. Below current market activity, chartists are eyeing some technical Support around the 106 – 109 range, including the 109.93 area that represents the 38.2% retracement of the 251.90 – 22.17 range.

Price activity is nearest the 50-bar MA (4-hourly) at 121.80 and the 100-bar MA (Hourly) at 120.16.

Technical Support is expected around 115.00/ 109.93/ 105.43 with Stops expected below.

Technical Resistance is expected around 126.85/ 132.23/ 137.04 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Bitcoin Cash

Bitcoin Cash (BCH/USD) continues to seek advances above the psychologically-important 400.00 figure and traded as high as the 419.90 area during yesterday’s North American session before giving back some gains. The pair continues to be challenged by the 200-bar MA (4-hourly), currently indicating around the 418.95 area. Traders are looking to see if the 412.31 area will ultimately become technical Support or technical Resistance for the pair as it represents the 23.6% retracement of the 515.87 – 380.32 range.

Below current market activity, traders are closely watching BCH/USD’s behaviour around the 392.68 area as it represents the 61.8% retracement of the move from 590.81 to 72.15. Also, the 381.39 area represents the 38.2% retracement of the 885.04 – 70.07 range. Above current market activity, the 432.10 level represents the 38.2% retracement of the move from 515.87 to 380.32. Technicians are also eyeing technical Resistance around the 437.18 and 448.10 levels.

Price activity is nearest the 50-bar MA (4-hourly) at 412.35 and the 200-bar MA (Hourly) at 412.76.

Technical Support is expected around 400.51/ 392.68/ 381.39 with Stops expected below.

Technical Resistance is expected around 432.10/ 448.10/ 454.82 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.


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