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Litecoin broke through the important short-term support around $51.20 and headed South.
* Despite we had a short-term (scalp) signal on 1H timeframe earlier today, the widespread fall in major cryptos shake out and caught market players flatfooted.
* After the price broke through the short-term support of $51.20, the South direction to the ultimate $30.00 target is now opened.
* At the same time, the current level of $49.00 lies right on the outermost (8/1) Gann's ray that could cease a downfall.
* Short trade, as well indicated by a bounce off 21 EMA down, indeed appears logical, but we would suggest to wait for a $51.00 price level before triggering a Short button.
* MACD is in the positive territory for the time being; but if it goes negative, it will confirm a further South direction.
Active trade signal
Sell @ $51.00.
Nearest Target: $40.00.
Stop-loss: $54.00.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Litecoin broke through the important short-term support around $51.20 and headed South.
* Despite we had a short-term (scalp) signal on 1H timeframe earlier today, the widespread fall in major cryptos shake out and caught market players flatfooted.
* After the price broke through the short-term support of $51.20, the South direction to the ultimate $30.00 target is now opened.
* At the same time, the current level of $49.00 lies right on the outermost (8/1) Gann's ray that could cease a downfall.
* Short trade, as well indicated by a bounce off 21 EMA down, indeed appears logical, but we would suggest to wait for a $51.00 price level before triggering a Short button.
* MACD is in the positive territory for the time being; but if it goes negative, it will confirm a further South direction.
Active trade signal
Sell @ $51.00.
Nearest Target: $40.00.
Stop-loss: $54.00.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
