Trade Recommendation: Litecoin
This is a short term trade. If the price bounces from 0.018500 support level and moves above SMA50, we should expect further upward movement. ADX line rises and it tells us that buyers become stronger. RSI confirms price reversal but does it not far from 50 level. It gives us a new buy opportunity. Entry level is 0.019300 with stop below the local swing lows at 0.018000 level. Profit targets are 0.020000 and 0.021000 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.
Profit Targets: 0.020000 and 0.021000
The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Litecoin.