Litecoin Intraday Technicals: Trying to Break $59 Resistance
LTCUSD is testing $59 resistance.
A failure to break it will put more pressure on Litecoin and will push it towards $50-$53 region.
I am considering the following scenarios today.
Scenario 1. A strong closure above $59 with momentum will make Litecoin more bullish, however below $69 is a choppy range area.
Scenario 2. Below $50, Litecoin is bearish and will move towards $34-$44 area.
Scenario 3. A strong rejection of $59 with momentum will make Litecoin bearish towards $34-$44 area, however above $50 is a choppy range area.
A failure to break it will put more pressure on Litecoin and will push it towards $50-$53 region.
I am considering the following scenarios today.
Scenario 1. A strong closure above $59 with momentum will make Litecoin more bullish, however below $69 is a choppy range area.
Scenario 2. Below $50, Litecoin is bearish and will move towards $34-$44 area.
Scenario 3. A strong rejection of $59 with momentum will make Litecoin bearish towards $34-$44 area, however above $50 is a choppy range area.
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