Litecoin on a very alarming level
hey guys welcome for another altcoin update
now what am looking on Litecoin here is that, its sitting on a very critical level right now and struggling to keep hold it
as you see in above chart that green line is 200 Weekly moving average and prices barely holding that level from last few weeks
now here we need to see two red closes below 200 weekly ema and if it does than be cautious if you're an ltc hodler
the very first support level is that green box from 48-43$ zone which had multiple rejections and supports previously
also we get fib618 support level in this zone which was precisely tested in October
here's my custom indicator in weekly chart, likely prices will enter in green zone in coming weeks
daily chart, aggressively bearish
besides all of this, what makes Litecoin price action more important is that it reflects Bitcoin's future price movement, although this could be just a myth there's no guarantee for that but litecoin prices are deeply correlated to Bitcoin's price movement and as a major altcoin it also shows the signs of upcoming altseason, so keep an eye on Litecoin
that's all for now guys, do like and follow me and keep supporting us so we keep bringing awesome new ideas for you.
this is husain zabir signing out
thankyou;)
now what am looking on Litecoin here is that, its sitting on a very critical level right now and struggling to keep hold it
as you see in above chart that green line is 200 Weekly moving average and prices barely holding that level from last few weeks
now here we need to see two red closes below 200 weekly ema and if it does than be cautious if you're an ltc hodler
the very first support level is that green box from 48-43$ zone which had multiple rejections and supports previously
also we get fib618 support level in this zone which was precisely tested in October
here's my custom indicator in weekly chart, likely prices will enter in green zone in coming weeks
daily chart, aggressively bearish
besides all of this, what makes Litecoin price action more important is that it reflects Bitcoin's future price movement, although this could be just a myth there's no guarantee for that but litecoin prices are deeply correlated to Bitcoin's price movement and as a major altcoin it also shows the signs of upcoming altseason, so keep an eye on Litecoin
that's all for now guys, do like and follow me and keep supporting us so we keep bringing awesome new ideas for you.
this is husain zabir signing out
thankyou;)
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