Chikunarise
LTC - +$500 and above.Hopping on the LTC train here! Here's my outlook of it:
Price seems to be consolidating and creating a bullflag. As you can see from the previous pump, price retraced to the 0.382 level, created a nice bowl and bounced back up in about 2 day period. I'm expecting a same trend to fold here. BTC dump few hours ago allowed LTC to test the support at the 0.382 level (which is actually around 297). The momentum right now is way too bullish for the market to not go higher. Ride the wave crypto surfers
SHS + High Volume + BTC FUD = New LTC ATHsShort term short opportunity has presented itself in the form of a SHS pattern, which formed as a result of the recent upswing in price and volatility. Neckline to peak measurement suggests we could retest $42.29 (.236 fib level). However, I believe that support at the $44 level will hold, and serve as a base to continue the climb upward. Based on LTC's past trading patterns, we could see a new trading channel forming between $45 and $55. My overall sentiment for this market is bullish, and I suspect a retest of the ATH by week's end.
Disclaimer: Do not base your investments off of my TA alone, do your due diligence and make your own decision.
LTC tip jar: LWVxqWdJsKPSriBjqTjWieKH3fZPd12oiC
BTC tip jar: 16QTC3Z6R8BsRqSL5GKEeiXNjjgn1yYQjJ
ETH tip jar: 0xf6EDd54095c656d38Ae1cF7D579926845B6307ed
Breakout confirmed, retest resistance @ $30LTC has been coiling up for the past few weeks on several intervals. On the longer intervals (1h and up) we've been seeing a lot consolidation in the $20-35 price channel. While on the shorter intervals we have seen a inner consolidation pattern since our last test of the $30 resistance zone. Finally making a move and breakout of the soft resistance at $28, LTC is primed for a strong move against the major resistance at $30. Good technical news being released about LTC (RSK/LTC mention by coblee), and uncertainty regarding the BTC UASF on 01AUG, seems to be main drivers of this rally. LTC also is a good option for new traders (low price + decent price stability) which could help boost this rally has mainstream investors begin eyeing the crypto-verse.
Ever skeptical, I recommend placing stops just below the support established at $27, as a dip below there will change the bullish sentiment. However, I am long for this coin, and expect to see a lot of movement in the next week. Target 1 is at $31.50, next stop will be the $35 level.
Stop: $26.75
Target 1: $31.50
