LTC/USD - Market Overview
Updated
Litecoin has been at the mercy of technicals for a while. It just seems to get beaten down repeatedly which is a shame because I actually think it is a fantastic project overall but oh well. The market doesn't care what I think about the project, markets are not run by emotions.
LTC is currently trading up at the side-wards support line after some higher lows ave occurred, but this was within a tight range so needs to be watched before a trade takes place. Theres a couple of scenarios I can see playing out here at the current level. They are:
1) It breaks side-wards support line at 58.08 and breaks down to the long term side-wards support line at 43.50. When it hits here there is a large chance of an upside move.
2) It bounces off the side-wards support at current levels and moves to the upside, hitting structure resistance zone at 75.50 before probably bouncing down again.
Bear in mind that price is actually wicking at the side-wards support at the moment, and this could signify a breakout. Let's see if it breaks lower or not.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
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Thank you for your support.
LTC is currently trading up at the side-wards support line after some higher lows ave occurred, but this was within a tight range so needs to be watched before a trade takes place. Theres a couple of scenarios I can see playing out here at the current level. They are:
1) It breaks side-wards support line at 58.08 and breaks down to the long term side-wards support line at 43.50. When it hits here there is a large chance of an upside move.
2) It bounces off the side-wards support at current levels and moves to the upside, hitting structure resistance zone at 75.50 before probably bouncing down again.
Bear in mind that price is actually wicking at the side-wards support at the moment, and this could signify a breakout. Let's see if it breaks lower or not.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
Note
Absolute tank, breaking side-wards support. Looks like we're conclusively riding to the downside now!Please leave a LIKE. I'd really appreciate it.
Thank you for your support.
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