FX.co ★ Litecoin has the potential to strengthen today towards its nearest resistance level

[Litecoin]

With all technical indicators condition which showing the strength, then today Litecoin has the potential to test its nearest resistance level.

Key Levels

1. Resistance. 2 : 61.43

2. Resistance. 1 : 60.05

3. Pivot : 57.77

4. Support. 1 : 56.39

5. Support. 2 : 54.11

Tactical Scenario

Positive Reaction Zone: If Litecoin breaks out above 60.05, it is likely to continue upward toward 61.43.

Momentum Extension Bias: If 61.43 is also breached, Litecoin could test 63.71.

Invalidation Level / Bias Revision

The upside bias weakens if Litecoin falls below 54.11.

Technical Summary

EMA(50) : 57.86

EMA(200): 56.16

RSI(14) : 60.55

Economic News Release Agenda:

From the United States the following economic data will be released:

US - ADP Weekly Employment Change - 19:15 WIB

US - Pending Home Sales m/m - 21:00 WIB

US - API Weekly Statistical Bulletin - 03:30 WIB