Litecoin has a history of following BTC's and ETH's bullish moves, both of which have already occurred (see my last post for the accurate prediction of ETH’s bull run). This, in addition to the Technical Analysis described bellow, leads me to believe that we should see a bullish LTC run soon, and expect it to weaken around the $175 area in a couple of weeks time, or possibly run to the ~$233 S/R block by June.
For more on S/R levels and blocks, make sure to check out my lesson on them a couple of posts back. Do remember that the green and yellow lines represent weekly and daily levels respectively, and that the thicker the line, the stronger the level.
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Cheers.
- Bullish MACD cross, which hasn’t happened since the mid-February ~80% bull run.
- OBV oscillator making higher lows while price trades sideways.
- RSI retesting very strong indicator level as support.
- Price close to retesting the S/R block for the fourth time, which is extremely bullish.
- 5th largest cryptocurrency market cap highlights stunning coin fundamentals.
For more on S/R levels and blocks, make sure to check out my lesson on them a couple of posts back. Do remember that the green and yellow lines represent weekly and daily levels respectively, and that the thicker the line, the stronger the level.
Don’t forget to leave a like or a comment, it truly helps out!
Cheers.
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+20% in less than a week; LTC successfully broke the S/R block with a lot of momentum. Expect price to climb to at least ~$175 in a short period of time, as there are no resistances in the way. Could be an interesting idea for a leveraged trade.