Hello traders litecoin is seeing a little bit of a selloff and we are approaching an important level. I will be looking to see if the price is able to bounce off of the 100SMA (the orange line) at the $255 level. if the price bounces and we get a reversal signal that price will be good for long term trades. However if the price falls below that 100day moving average i expect to see the price fall back down to previous support around the $230 price range. Just my insight hope this finds you well good luck traders and remember be PATIENT!!
Peace
交易進行
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looks as if litecoin has broken through the SMA100 that was holding support ill be watching closely to see if a previous support zone at $230 range. if price doesnt hold there ill be watching for strong support around $205-210
Can you explain the difference between the yellow MA and the Blue MA in your chart. I get that the orange line is the 100 day MA, but the difference between the Blue and Yellow somehow escapes my lack of chart smarts.
Thank you
LadenStanford
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@reubenw, yes sorry i made that pretty confusing now that i look at it...the blue MA is the 100 day moving average and the yellow MA is the 50 day moving average...when i drew the orange line i drew it in line with the blue 100 day moving average, should have kept it blue for clarity. hope this cleared things up for you
Thank you