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Sally Ho's Technical Analysis 14 November 2019

 
Sally Ho's Technical Analysis 14 November 2019
Breaking News / Bitcoin Cash / Analytics / Litecoin

Litecoin

Litecoin (LTC/USD) was marginally stronger early in today’s Asian session as the pair climbed to the 60.78 area after trading as low as the 60.12 area during yesterday’s North American session. The pair’s recent range expansion has increased the importance of longer-term price ranges, meaning additional areas of technical Support and technical Resistance are being watched by traders.  Below current market activity, the 47.13 area represents the possible technical Support and the 23.6% retracement of the 127.95 – 22.17 range.  The pair’s next upside price objective related to this range is the 62.58 area.

Another very important technical range that LTC/USD traders are watching is the move from the 182.35 – 22.17 area.  The 59.97 area represents the 23.6% retracement of this range, and the 83.36 area is the 38.2% retracement of this range.  Additionally, the 192.89 – 22.17 range is another important one, and the 62.46 area represents the 23.6% retracement of this range.  If LTC/USD finds additional buying pressure, traders will pay close attention to the 76.39 area, an upside price objective that represents the 23.6% retracement of the 251.90 – 22.17 range. Some possible selling pressure is expected between the 75.06 – 76.39 range with more likely between the 83.36 – 87.39 range.

Price activity is nearest the 100-bar MA (4-hourly) at 60.47 and the 50-bar MA (Hourly) at 61.15.

Technical Support is expected around 52.15/ 50.25/ 47.13 with Stops expected below.

Technical Resistance is expected around 64.40/ 69.47/ 75.06 with Stops expected above.

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

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

 

Bitcoin Cash

Bitcoin Cash (BCH/USD) made a little comeback early in today’s Asian session as the pair rose to the 284.50 area after trading as high as the 289.15 area during yesterday’s European session.  Traders have noted the pair’s recent range expansion, and this has increased the importance of longer-term trading ranges that will likely be providing important areas of technical Support and technical Resistance.  One such price level right around recent trading activity is the 289.35 area, representing the 38.2% retracement of the move from 639.01 to 73.68. The next upside level related to this important trading range is the 356.12 area, representing the 50% retracement of the range.

Below current market activity, another important level is the 270.94 area, representing the 38.2% retracement of the 590.81 – 73.22 range. The next upside price objective related to this range is the 332.01 area, representing the 50% retracement of the range.  Additionally, the 888.19 – 73.22 range is technically significant and the 265.55 area represents the 23.6% retracement of the range.  Additional technical Support may be in place around the 275.42 area, representing the 23.6% retracement of the 929.99 – 73.22 range.

Price activity is nearest the 100-bar MA (4-hourly) at 286.59 and the 50-bar MA (Hourly) at 286.38.

Technical Support is expected around 269.10/ 259.29/ 252.97 with Stops expected below.

Technical Resistance is expected around 301.72/ 308.21/ 320.66 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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

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