LitecoinLong
Litecoin next 3 stops before the moon!
Let's take a breath of fresh air! Welcome to the bull market!
Before I start digging into LTC remember taking profits/locking in profits is always a great thing! No one ever blew an account by taking profits. Don't get stuck holding bags for multiple years because you thought some poop coin would do something that no other coin has ever done(go up in price indefinitely).
Anyways lets get into Litecoin. Bull markets are definitely always different but at the core they're very similar in the crypto space. First Bitcoin moves, then Ethereum moves, then lastly a majority of the alt coins move. LTC is apart of the third group. In my opinion ETH has yet to make its moon shot. So we still have sometime before we should expect LTC to make its parabolic run. BUT that doesn't mean we can't look for possible targets for LTC. Let's see what some basic technical analysis is showing us.
First, let's take a peak at the white fib. Swing high was drawn on November 8 2021, swing low was on June 13 2022. Not much to report with the fib because we haven't bounced around much between the fib levels. When price starts moving to the upside I do expect the fib will give us insight to where LTC will more than likely visit.
Second, check out the purple trend line. Trend line touch points are March 28 2022, second touch point was July 24 2023 then I extended out the trend line. This trend line has played out perfectly. We briefly got above it then rejected and came back below it on June 26-July 03 2023. Then February 26 2024 we spiked above it with candle body closures/opens above the trend line until June 17 2024. Now we're currently above the trend line since October 14 2024. Looks like a solid break out(with a trend line retest on November 4 2024) BUT I'll keep it on my chart in case LTC dumps down it may act as support.
Lastly, the red box of resistance/support(in the past). Bottom of the box is at 122.23 top of the box is at 127.26. The red box historically acts as a magnet. When price is above it(the box), it wants to pull price down to it and when price is below the box it wants to pull price up to it.
Let's wrap this up with potential incoming targets in the near future. Lowest to highest targets. First target is the bottom of the red box of historic resistance(currently before we flip it into support) at 122.23 which is 35% away from current price. Next would be the top of the red box at 127.26(42%) and lastly the .618 fib level at 201.69(127%). All three of these levels need to be smashed through with candle body's closing and opening at/above price levels while we gear up for ALL TIME HIGHS! Litecoin has significantly more upside than downside!
Trade smart, trade safe!
Before I start digging into LTC remember taking profits/locking in profits is always a great thing! No one ever blew an account by taking profits. Don't get stuck holding bags for multiple years because you thought some poop coin would do something that no other coin has ever done(go up in price indefinitely).
Anyways lets get into Litecoin. Bull markets are definitely always different but at the core they're very similar in the crypto space. First Bitcoin moves, then Ethereum moves, then lastly a majority of the alt coins move. LTC is apart of the third group. In my opinion ETH has yet to make its moon shot. So we still have sometime before we should expect LTC to make its parabolic run. BUT that doesn't mean we can't look for possible targets for LTC. Let's see what some basic technical analysis is showing us.
First, let's take a peak at the white fib. Swing high was drawn on November 8 2021, swing low was on June 13 2022. Not much to report with the fib because we haven't bounced around much between the fib levels. When price starts moving to the upside I do expect the fib will give us insight to where LTC will more than likely visit.
Second, check out the purple trend line. Trend line touch points are March 28 2022, second touch point was July 24 2023 then I extended out the trend line. This trend line has played out perfectly. We briefly got above it then rejected and came back below it on June 26-July 03 2023. Then February 26 2024 we spiked above it with candle body closures/opens above the trend line until June 17 2024. Now we're currently above the trend line since October 14 2024. Looks like a solid break out(with a trend line retest on November 4 2024) BUT I'll keep it on my chart in case LTC dumps down it may act as support.
Lastly, the red box of resistance/support(in the past). Bottom of the box is at 122.23 top of the box is at 127.26. The red box historically acts as a magnet. When price is above it(the box), it wants to pull price down to it and when price is below the box it wants to pull price up to it.
Let's wrap this up with potential incoming targets in the near future. Lowest to highest targets. First target is the bottom of the red box of historic resistance(currently before we flip it into support) at 122.23 which is 35% away from current price. Next would be the top of the red box at 127.26(42%) and lastly the .618 fib level at 201.69(127%). All three of these levels need to be smashed through with candle body's closing and opening at/above price levels while we gear up for ALL TIME HIGHS! Litecoin has significantly more upside than downside!
Trade smart, trade safe!
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