LTC 4hr 5/13/19: We are lagging a bit.
Believe it or not LTC is lagging a bit on its run. BCH, ETH, BTC, and others are all having more bullish runs during the last few days. Either we are still filling up the rocket fuel on LTC or our last rally was a little over the top and now we need to let the others catch up a little. There have been several times I have considered taking profit on LTC but so far, I have not. I believe that our break of 100 is not going to be something you want to miss so I have just been slowly adding on dips. It is interesting to see that our old channel is still proving some relevance even though it has broken a few times now. Seems like there are algos using those lines as signals for buying and selling.
Moving averages are all nice and close RSI is 63. MacD shows that this rally was almost cut short as I was saying above. There just has not been as much power behind the LTC bulls on this last move as there is on other coins. This being said, we have tons of support nearby. We have all the moving averages at 86,83,78,75 roughly. We have historical support at 86.73, 83.81, 81.54, 78.29 and on. We have the top of our channel and probably more. Point being, I really can’t see this falling back down more then 15% if it falls hard because of some bad news catalyst or something. I would be very surprised if we broke 75 in the next week but I could see a daily lower high around 80 if we don’t break through 100 soon/first.
Moving averages are all nice and close RSI is 63. MacD shows that this rally was almost cut short as I was saying above. There just has not been as much power behind the LTC bulls on this last move as there is on other coins. This being said, we have tons of support nearby. We have all the moving averages at 86,83,78,75 roughly. We have historical support at 86.73, 83.81, 81.54, 78.29 and on. We have the top of our channel and probably more. Point being, I really can’t see this falling back down more then 15% if it falls hard because of some bad news catalyst or something. I would be very surprised if we broke 75 in the next week but I could see a daily lower high around 80 if we don’t break through 100 soon/first.
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