LITECOIN

It appears that sellers dominate the Litecoin cryptocurrency, as it is confirmed by a Death Cross intersection of both EMAs, so in the near term there is potential to test the nearest support level.

Key Levels

1. Resistance. 2 : 55.36

2. Resistance. 1 : 54.75

3. Pivot : 54.00

4. Support. 1 : 53.39

5. Support. 2 : 52.64

Tactical Scenario

Pressure Zone: If 54.00 is broken down, there is potential for Litecoin's weakness to continue toward 53.39.

Momentum Extension Bias: If 53.39 is also broken, Litecoin could extend its decline to 52.64.

Invalidation Level / Bias Revision

The downside bias is restrained if Litecoin strengthens upwards until it breaks and closes above 55.36.

Technical Summary

EMA(50) : 54.09

EMA(200): 54.40

RSI(14) : 59.27

Economic News Release Agenda:

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

US - Revised UoM Consumer Sentiment - 21:00 WIB

US - CB Leading Index m/m - 21:00 WIB

US - Revised UoM Inflation Expectations - 21:00 WIB