It has been a rocky week for LTC as it has moved down a good 30% from reaching its ATH. This is to be expected though in the crypto markets and nothing to really worry about considering we are still in a bull market.
LTC has been trading inside a nice upward moving channel since October of last year all while mostly staying above the 50 day MA. The RSI has been making higher lows and the volume has been, on average, a lot higher since the end of March. Barring some FUD Elon tweets that could cause a temporary price dip, or a major BTC move, I see don't see a lot of reasons that LTC will not continue to rise based on the cart.
I would like to see the MACD cross above the signal line on the daily chart. This is really the only bearish sign on this chart. Perhaps even this is going to change soon because, at the time of writing, the histogram seems to have turned towards increasing.
This might not be the fasted play ever, but I think it is reasonable to say that LTC will be above its old ATH and at $450 in the next couple of weeks.
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Thank you for reading, please like, follow, and comment! And don't forget to checkout my indicator guides below. More coming soon!
Trade at your own risk.
LTC has been trading inside a nice upward moving channel since October of last year all while mostly staying above the 50 day MA. The RSI has been making higher lows and the volume has been, on average, a lot higher since the end of March. Barring some FUD Elon tweets that could cause a temporary price dip, or a major BTC move, I see don't see a lot of reasons that LTC will not continue to rise based on the cart.
I would like to see the MACD cross above the signal line on the daily chart. This is really the only bearish sign on this chart. Perhaps even this is going to change soon because, at the time of writing, the histogram seems to have turned towards increasing.
This might not be the fasted play ever, but I think it is reasonable to say that LTC will be above its old ATH and at $450 in the next couple of weeks.
_______________________________________________________
Thank you for reading, please like, follow, and comment! And don't forget to checkout my indicator guides below. More coming soon!
Trade at your own risk.
