LTC has broken out of its daily downtrend. You can see from the chart that the most recent day's candle that buyers made the effort to break out of the downward trendline established by the top (first blue arrow), and then subsequent lower high (second blue arrow) in early January. The volume is severely lacking so far to make me feel like this breakout will have any sustained momentum, but we'll see what their new CC and the fork have to say about price in the coming days.
The MACD indicator has also indicated it's buy time. At the bottom, the shorter 24 average blue line has finally crossed above its longer 52 average line. The MACD itself (pink middle line) is trying to come back above 0 also. Momentum is beginning to shift to the upside. If you don't know what that means, check this out. www.investopedia.com...technical/082701.asp
Lastly, price is back above the 10MA, bullish sign. There's definitely going to be interest in the coming days, from both bulls and bears. This is the first time price will make an attempt to break an established 45 day old downtrend. Be ready for both FUD and FOMO fuel.
My guess? LTC will testing $200 by March. Mind you I don't follow LTC nor do I own any. I know nothing about this coin other than its founder dumped it all when it spiked. This is just me reading the chart.
Good luck bulls.
The MACD indicator has also indicated it's buy time. At the bottom, the shorter 24 average blue line has finally crossed above its longer 52 average line. The MACD itself (pink middle line) is trying to come back above 0 also. Momentum is beginning to shift to the upside. If you don't know what that means, check this out. www.investopedia.com...technical/082701.asp
Lastly, price is back above the 10MA, bullish sign. There's definitely going to be interest in the coming days, from both bulls and bears. This is the first time price will make an attempt to break an established 45 day old downtrend. Be ready for both FUD and FOMO fuel.
My guess? LTC will testing $200 by March. Mind you I don't follow LTC nor do I own any. I know nothing about this coin other than its founder dumped it all when it spiked. This is just me reading the chart.
Good luck bulls.
Trade geschlossen: Ziel wurde erreicht:
Broke $200 the next day!!