I have come to the conclusion that Litecoin will not go under $100 USD. I have been doing charts for a while. This is my first publishing but it is an important one. The reason I choose Litecoin is because it has a lot of potential next to Bitcoin this year. I also noticed another account in here stating a rumor that it can go under $100 and I will tell you why with basic math.
Litecoin has a massive wall at $100 USD and it is reinforced big time. Despite a bear flag that could form on Litecoin's chart, it will not shoot down below $100 USD. The very reason lies with LTCBTC on the charts which a comparison of the chart is in red on the bottom of the chart. For now the LTCBTC chart is what you should look at. LTCBTC is important, and with that said LTCBTC is holding up the Dollar price on Litecoin. LTCUSD is stronger against the Bitcoin prices because it appears it is more held and desired for this year.
The more people that hold, the higher the ratio would become. Seeing how LTCBTC is over 0.017, it would still mean that Litecoin would be approximately $105 USD if bitcoin makes a double bottom at $5900. This is very important to know and to see how far Litecoin can dip if Bitcoin aims to make a double bottom this month.
On April 3, Litecoin had an impressive 14% run, while Bitcoin was only 6%. This proves that LTCUSD will not get down to levels that of under $100 USD.
Many charts that show it can are not looking at these important facts. This is a fact.
So in closing. I believe we are accumulating at this stage and once we slip to the other side of the resistance we will be on our way.
Thank you for visiting.
TradingHub
Litecoin has a massive wall at $100 USD and it is reinforced big time. Despite a bear flag that could form on Litecoin's chart, it will not shoot down below $100 USD. The very reason lies with LTCBTC on the charts which a comparison of the chart is in red on the bottom of the chart. For now the LTCBTC chart is what you should look at. LTCBTC is important, and with that said LTCBTC is holding up the Dollar price on Litecoin. LTCUSD is stronger against the Bitcoin prices because it appears it is more held and desired for this year.
The more people that hold, the higher the ratio would become. Seeing how LTCBTC is over 0.017, it would still mean that Litecoin would be approximately $105 USD if bitcoin makes a double bottom at $5900. This is very important to know and to see how far Litecoin can dip if Bitcoin aims to make a double bottom this month.
On April 3, Litecoin had an impressive 14% run, while Bitcoin was only 6%. This proves that LTCUSD will not get down to levels that of under $100 USD.
Many charts that show it can are not looking at these important facts. This is a fact.
So in closing. I believe we are accumulating at this stage and once we slip to the other side of the resistance we will be on our way.
Thank you for visiting.
TradingHub
Trade active
Litecoin approaches the March resistance for breakoutTrade active
BREAKOUT looks good on schedule.
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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.
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.