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An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

 

• First key support level of EUR/USD: 1.050319
• Second Key support level of EUR/USD: 1.046858
• Third Key support level of EUR/USD: 1.045575
• First key resistance level of EUR/USD: 1.060125
• Second Key resistance level of EUR/USD: 1.062433
• Third Key resistance level of EUR/USD: 1.069718

• First key support level of USD/CHF: 0.955793
• Second Key support level of USD/CHF: 0.954412
• Third Key support level of USD/CHF: 0.952188
• First key resistance level of USD/CHF: 0.958536
• Second Key resistance level of USD/CHF: 0.96201
• Third Key resistance level of USD/CHF: 0.96786

• First key support level of GBP/USD: 1.218042
• Second Key support level of GBP/USD: 1.216098
• Third Key support level of GBP/USD: 1.211626
• First key resistance level of GBP/USD: 1.225133
• Second Key resistance level of GBP/USD: 1.231468
• Third Key resistance level of GBP/USD: 1.240129

• First key support level of USD/JPY: 135.895108
• Second Key support level of USD/JPY: 135.440629
• Third Key support level of USD/JPY: 134.523777
• First key resistance level of USD/JPY: 136.712446
• Second Key resistance level of USD/JPY: 138
• Third Key resistance level of USD/JPY: 139.303094

 

Technical Analysis of Litecoin Cryptocurrency

Litecoin has been in a steady downward trend since last year, enabling buyers to record the lowest price area of $32.28. The recent downtrend was followed by the cryptocurrency market leader, Bitcoin. In the current situation, Bitcoin is making a price floor, so Litecoin stopped further decline. However, if Bitcoin continues the downtrend, the Litecoin price will drop and reach the important support level of $23.35.

In the long run, like monthly and weekly, the price is in saturation with sells, and it has the capability of trend reversal and downtrend correction. Together with the formation of the hammer candlestick in the weekly time frame, a warning has been issued for the formation of a price floor and trend reversal. Regarding the type of price actions which has been formed, the divergence among the ATH of $413 and the ATL of $38.28, the price has formed the harmonic pattern of AB=CD together with the incongruous Fibonacci ratio of 61.8 and 127.2 and the ‘D’ point of this pattern has been formed and stabilized. In case of a further price increase and the breaking of the support level of $56.54 (the first warning at present), the price will possibly increase and reach the resistance levels of $63.50 and $71.

Warning: Please note that regarding the fact that the cryptocurrencies have been labeled as risky assets and the complicated market situation, the mentioned article is not a buy or sell signal and is purely a free analysis of the current cryptocurrencies market.

 

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