See the chart for details.
Target should be around 0.0125ish if it plays out, then I'd expect it to try to break out of the top of the wedge... let's see
If it isn't already obvious, there is some major manipulation going on.
If you weren't watching the action directly on Poloniex, you missed it - because the charts here on tradingview haven't even caught up yet. This is some Grade-A sketchy shit.
If you missed it - the price got pushed down right to the major trendline that formed from all the lowest points of this rally. When it wouldn't dip further, someone was flashing a 1000btc sell wall to try and cause a panic.
MEANWHILE, the price feeds to Tradingview (and I'm guessing every other starting site external to Poloniex) are suspiciously lagging behind. So far behind that it's just catching up as I'm writing this. Meaning that unless you were watching Poloniex, you had no idea what was going on.
So when you put the pieces together, the obvious plan was to crash LTC just beyond that trendline, because I'm sure lots of people either had stop loss orders there, or liquidation points. And the genius part here was that they were able to delay the price feed to other sites, so that no price alarms went off, and even if you were watching the charts on this site, you had no idea it was crashing.
As soon as I saw that 1000btc wall flashing, I knew something was up. So I bought the hell out of that wall. Others did too, and we won the battle - it disappeared. And then, surprise surprise, the MOMENT that wall disappeared, the site was DDOS'ed, ground to a halt, and the price started to rise.
I'm not technical enough to know if it's even possible for someone outside of poloniex staff to slow the price feed like that...but this is all super sketchy.
I'm going to transition away from Poloniex as much as I can at least until they resolve these issues.
Hope you all survived the heist!