Currently LTCUSD is painting a very interesting chart.
Short-timeframes suggest a bullish leg up to retest the downward trendlines
Medium term is only slightly bearish with sell volume decreasing suggesting that buyers are starting to take back control.
Long term LTC is still bullish and this correction was much needed with how exponential crypto has been growing.
The next few days worth of follow-up will confirm one of the continuation patterns spotted on this chart.
Short-timeframes suggest a bullish leg up to retest the downward trendlines
Medium term is only slightly bearish with sell volume decreasing suggesting that buyers are starting to take back control.
Long term LTC is still bullish and this correction was much needed with how exponential crypto has been growing.
The next few days worth of follow-up will confirm one of the continuation patterns spotted on this chart.
Note
LTC taking the bullish route like a champ; prices should consolidate for after testing resistance a bit unless more buy volume appears. 260-270 is a good short-term support // entry level for the current bullish move.Note
Everything in this market is now watching and reacting to btc movements; this chart details the support and resistance zones for Litecoin. If you believe the bullish market will continue then chances are price will rebound hard and fast. If BTC does go bearish then expect LTC to be bearish too.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.