Litecoin (LTCUSD) declined in its latest intraday trading, breaking below a short-term corrective ascending trendline, coinciding with a move beneath its 50-day simple moving average. This effectively ends any near-term recovery prospects, especially with negative signals flowing in from the RSI indicators despite their presence in extremely oversold territory.
Therefore we expect the cryptocurrency to fall in its upcoming trading, particularly if it breaks the key support level at 79.45, targeting thereafter the pivotal support at 75.20.
Expected trend for the upcoming trading: Bearish
BlackRock, Inc. (BLK) rose in its latest intraday trading, but this advance brought the stock into direct contact with resistance at its 50-day simple moving average, reinforcing the negative pressure created by the dominant short-term corrective downtrend. We also observe the early formation of a bearish divergence on the RSI indicators after they reached extremely overbought levels, in a manner exaggerated compared with the stock’s price movement, accompanied by the beginning of negative signal inflows.
Therefore we expect the stock to decline in its upcoming trading, as long as the resistance level at $1,088 remains intact, targeting the support level of $1,031.
Today’s price forecast: Bearish
Alphabet Inc. (GOOG) advanced slightly in its latest intraday trading, under full dominance of the main medium-term ascending trend, with the price moving alongside a supportive minor trendline. The stock also benefits from dynamic support provided by trading above its 50-day simple moving average. However, negative signals have begun to appear on the RSI indicators, which has limited the stock’s recent gains.
Therefore we expect the stock to rise in its upcoming trading, as long as the support level at $291.95 remains intact, targeting the resistance level of **$350.00**.
Today’s price forecast: Bullish
Nu Holdings Ltd. (NU) inched higher in its latest intraday trading after the stock successfully relieved its overbought saturation on the RSI indicators, giving it more room to extend gains in the near term. This comes alongside continued positive support from trading above its 50-day simple moving average, and under the dominance of the main short-term ascending trend, with the price moving alongside a supportive minor trendline.
Therefore we expect the stock to rise in its upcoming trading, as long as the support level at $16.35 remains intact, targeting the resistance level of $17.82.
Today’s price forecast: Bullish