LITECOIN is at 67 right now which is the resistance level. Market may print a bearish candlestick towards the bearish side and continue moving down for another bearish leg. Market has the potential to drop to the 61 level. This setup has the stop at the top of the resistance.

There is an another ascending trendline which is formed is pending the breakout sell. Once broken down and validated with the candles, we can further take the bearish beat.

The retracement level of 61.8% is in confluence with the resistance level. This should act as a catalyst for the drop down.

EMA 50 is bearish and a retest is due at the resistance level. If that happens, we will have another confirmation for the bearish side.

RSI is at 56. This means, the market needs to dwell into the bullish region. In this region, we need to form a bearish divergence. This bearish divergence aligned with the technical factors will push Stellar towards the bearish side.

Litecoin double top

Jan 01 2023