Looks like LTC/USD has formed a descending triangle for a while now. Its nearing the edge where we will either see it breakout or continue on a downtrend. With the RSI getting lower, if we can see it dip under 30 and bounce it would be a great sign to show an upcoming bull run. Also, with the 8 and 55 EMA's getting closer to each other we are hoping for them to cross. These 2 indicators will be huge tells to whether or not LTC/USD is going to rise.
While using the fibonacci retracement i noticed the support line fell right onto the 78% fibonacci level which makes this point around $133 USD an even stronger support. I stacked my buy points around this level incase it dips a bit lower or doesn't bounce directly off of it. The buy points i am using are between $143 and $123 (+- $10 from the support)
Hopefully we see Litecoin take off in the near future
While using the fibonacci retracement i noticed the support line fell right onto the 78% fibonacci level which makes this point around $133 USD an even stronger support. I stacked my buy points around this level incase it dips a bit lower or doesn't bounce directly off of it. The buy points i am using are between $143 and $123 (+- $10 from the support)
Hopefully we see Litecoin take off in the near future
