litecoin is currently in a bullish movement. i expect a retracement around the area i marked with a red circle(1)($157). i have drawn a trend-line on the lows of the candle sticks and once the market crosses that uptrend line it should signal a reversal provided the RSI is above the 70 mark(over bought)( red circle 2).
if the above does happen the market should find support on the $140(red circle 3) mark and the continue with its current bullish trend.
IT IS ALSO IMPORTANT TO NOTE THAT THIS IS NOT FINANCIAL ADVICE IT IS JUST MY ANALYSIS OF THE CHARTS
crypto markets can be easily manipulated as we have seen in the past. my analysis is based on pure technical analysis and would only happen if fundamentals does not over power or have a huge impact on the market.
if the above does happen the market should find support on the $140(red circle 3) mark and the continue with its current bullish trend.
IT IS ALSO IMPORTANT TO NOTE THAT THIS IS NOT FINANCIAL ADVICE IT IS JUST MY ANALYSIS OF THE CHARTS
crypto markets can be easily manipulated as we have seen in the past. my analysis is based on pure technical analysis and would only happen if fundamentals does not over power or have a huge impact on the market.