The price failed to form a new high, while the Stochastic indicator remains above the 20 level. This divergence, marked with a red line on the chart, indicates weakening of an upward momentum and increases the probability of a price decline.
The RSI indicator is now below the mark of 50. The position of the indicator below this level indicates the predominance of a downward trend.
The histogram of the MACD indicator remains above the signal line, indicating the local development of an upward movement. However, the indicator indications do not contradict the signal, marked on the chart.
It is recommended to focus on short positions on Litecoin. Entry points can be detected now or upon the technical confirmation after a retest of this level.
📌 Entry: 106.35
✔️ First target: 104.36
✔️ Second target: 103.03
❌ Stop order: 107.47
Litecoin H1: A reversal signal from the Stochastic indicator
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