$LTC is 1.7% away from the top of its weekly range, and the volume is not there yet.
Price is 71.29, up 3.2% today. Over 7 days it is up only 0.3%, so the week went nowhere. The range is 65.63 to 72.5, about 10.5% wide, and LTC is now near the upper edge.
The volume tells me to wait: about 23.1M USDT in 24 hours, 0.65x its 7-day average. The push toward 72.5 is happening on less trading than a normal day. Hourly RSI is 57.6, positive but not stretched. BTC is up 0.61%, so LTC is outperforming today.
My view: neutral. A flat week with a move to the top of the range is a test, not a breakout.
What I am waiting for: a move above 72.5 with volume back above its 7-day average. That would be the first real break out of this range.
What changes my mind the other way: a drop back under 69, where LTC was 24 hours ago. That would make today's move just another swing inside the range.
#Litecoin #RangeTrading
Price is 71.29, up 3.2% today. Over 7 days it is up only 0.3%, so the week went nowhere. The range is 65.63 to 72.5, about 10.5% wide, and LTC is now near the upper edge.
The volume tells me to wait: about 23.1M USDT in 24 hours, 0.65x its 7-day average. The push toward 72.5 is happening on less trading than a normal day. Hourly RSI is 57.6, positive but not stretched. BTC is up 0.61%, so LTC is outperforming today.
My view: neutral. A flat week with a move to the top of the range is a test, not a breakout.
What I am waiting for: a move above 72.5 with volume back above its 7-day average. That would be the first real break out of this range.
What changes my mind the other way: a drop back under 69, where LTC was 24 hours ago. That would make today's move just another swing inside the range.
#Litecoin #RangeTrading
