PRICE ACTION
LTC appears to be getting a little reprieve bounce off the 28D MA; and more than likely some support from the bullishness of the broader market. Price has been range trading between $75-$85 since 11-April; and it will be interesting to see how price reacts @ $80 over the next 24 hours.
Volume on the recently closed 4H candle was somewhat positive for bulls; however it was unable to recover the ground lost from the 21-April red 4H candle prior to Easter.
Now that most countries are back from their 3- or 4-day breaks; we should see some liquidity come back into the market. What ripples will that capital form in the wake of a bullish looking market?
OPEN INTERESTS (BITFINEX)
Long: 1.52 Days
Short: 0.68 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 85, 100, 115
Support: 78 (28D MA), 75, 65 (52W MA)
PREVIOUS ANALYSIS
LTC appears to be getting a little reprieve bounce off the 28D MA; and more than likely some support from the bullishness of the broader market. Price has been range trading between $75-$85 since 11-April; and it will be interesting to see how price reacts @ $80 over the next 24 hours.
Volume on the recently closed 4H candle was somewhat positive for bulls; however it was unable to recover the ground lost from the 21-April red 4H candle prior to Easter.
Now that most countries are back from their 3- or 4-day breaks; we should see some liquidity come back into the market. What ripples will that capital form in the wake of a bullish looking market?
OPEN INTERESTS (BITFINEX)
Long: 1.52 Days
Short: 0.68 Days
RELATIVE STRENGTHS
- Micro (5m): Higher Lows
- Short Term (4h): Chop
- Mid Term (1D): Weakening
- Macro (1W): Weakening
ON BALANCE VOLUME
- Mid Term (1D): Weakening
- Macro (1W): Weakening
KEY PRICE AREAS
Resistance: 85, 100, 115
Support: 78 (28D MA), 75, 65 (52W MA)
PREVIOUS ANALYSIS