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30.06.202217:02 Forex Analysis & Reviews: Short-term technical analysis on Litecoin for June 30, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 30.06.2022 analysis

Red lines- wedge pattern

Blue line- bullish divergence

Green line -resistance

Litecoin is moving lower after price getting rejected at the resistance of $57.50-$58. Litecoin remains inside the downward sloping wedge pattern, We continue to consider the bounce as a relief bounce as we mentioned in our last analysis. Bulls need to break above the green horizontal resistance and the upper wedge boundary in order to hope for a trend reversal. The RSI has provided a bullish divergence but this is not a reversal signal. This is only a warning to bulls to be cautious.

Alexandros Yfantis
Analytical expert of InstaForex
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