LTCETH - REVERSAL

LTCETH Expected to Reverse and Outperform Ethereum

Price has been trading in a downward channel for the past months and is approaching the long term support where price has rebounded before multiple times

Technicals:

• MACD on the daily is bearish, so may need a few days to reverse but weekly and monthly histograms are about to turn green (weekly) or reverse (monthly).
  
• Stoch RSI shows oversold and is about to turn upwards in the next few days/+- 2weeks
  
• Reversal Hammer weekly candle formed 10 Aug
  

Wait for a bounce from long term support and break in the downward channel to confirm a reversal

Bình luận:

In 1-2 weeks, I predict that the ratio will hit long-term support. Wait for the bounce off support. If the ratio bounces with good vol, then LTC growth will outpace ETH growth over BTC over the next 1-3 months. If the ratio falls below support, I expect a long-wick bullish candle to form.

Bình luận:

- Ratio has broken out of the long-term channel.
- Monthly MACD and RSI indicate that a reversal is coming
- Wait for monthly candle and an increase in volume
- LTC/ETH ratio may bounce between the current level and the 0.165 resistance
- Expected time frame to swing and outperform ETH = 3-4 months (Feb-Mar)

Bình luận:

LTC/ETH ratio broke through the horizontal zone and is resting on the upper support line of the descending channel which also happens to be in line with the June 2017 wick. Wait for the ratio to rebound. If no rebound occurs in the short-term, expect LTC/ETH to continue falling while touching the upper line of the channel.

A new chart with a longer timeframe of data can be found below: