Daily Crypto Technical Analysis: Litecoin recovered yesterday along with the rest of the altcoin market. LTC bounced after hitting lows from January of this year and is stuck on the 23.6% fib retracement level. Next resistance lies above at the 38.2% level where there is also a resistance line from around 209-220. MACD indicator showed the MACD line cross above the signal line yesterday meaning that an uptrend could be forming. 14-period RSI fell well below 30, but is now coming up to peak at 53. If the market continues to climb, so will Litecoin, and they will have to test multiple levels of resistance. But, a break in these levels could mean strong support in the future.
9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]
9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]
9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]
9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]