As it's Easter weekend the Forex markets have been pretty quiet today, with Commodities, Indies and Metals all shut. I've been focusing more on Crypto trading and potential opportunities.
Here is my analysis on LTCUSD (Litecoin):
You can see that price has broken out of a 4h TL that has held for some time since the last Crypto crash. Price has bounced off a strong level of resistance (and huge supply zone), and through a number of EMAs,, so I am seeing further downside on this pair. We could either see a re-test of the trendline, before falling further - or a drop to the grey boxes, before coming back up and potentially re-testing the TL.
It is worth keeping an eye on these levels (or setting alerts).
Should we see a clear break of both grey boxes, we could fall lower (towards the crash lows).
The level that stands out to me most is 35.00. A good area of support, and a demand zone that has held previously.
Let me know what you think below.
Here is my analysis on LTCUSD (Litecoin):
You can see that price has broken out of a 4h TL that has held for some time since the last Crypto crash. Price has bounced off a strong level of resistance (and huge supply zone), and through a number of EMAs,, so I am seeing further downside on this pair. We could either see a re-test of the trendline, before falling further - or a drop to the grey boxes, before coming back up and potentially re-testing the TL.
It is worth keeping an eye on these levels (or setting alerts).
Should we see a clear break of both grey boxes, we could fall lower (towards the crash lows).
The level that stands out to me most is 35.00. A good area of support, and a demand zone that has held previously.
Let me know what you think below.
