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Technical Analysis
Daily Market Analysis By FXOpen
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[QUOTE="Resolve, post: 195567, member: 29339"] [B]LTC and EOS – Have we seen the completion of the downfall?[/B] [IMG]https://i.postimg.cc/P5ZqYMF7/ltc-1.jpg[/IMG] [B]LTC/USD[/B] The price of Litecoin has been on a decline since the 10th of May when it reached $413 at its highest point. From there we have seen a decrease of 64.88% as it fell to $145 at its lowest point yesterday. We have seen a recovery taking place with the price currently being traded at $211 and is still in an upward trajectory. [IMG]https://i.postimg.cc/HLq433p7/ltcusd-1h-2.png[/IMG] On the hourly chart, you can see that the price has made a lower low today, compared to yesterday’s candle close, and is now still above yesterday’s high. This is still a negative sign even though recovery has been seen. We could bee saw the 4th corrective wave out of the five-wave impulse to the downside from the 16th which is still in development. If this is true then the price would be headed downwards after this increase ends for another establishment of support around the $165 area. In another move positive scenario the decrease ended with today’s recovery being the 1st sub-wave of the next five-wave impulse to the upside. Even so a retracement would be expected and first a surpassing of yesterday’s high so for the pullback that is expected to follow we can evaluate these possibilities. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
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