LTC seemed to have formed a double top pattern and could not break through the 0.02 resistance. It broke down the neckline of the double top (blue trendline) which has now become resistance. If LTC is unable to break this line, I think we might be going down to at least the blue box, but a deeper retracement might be possible as well.
On the other hand, LTC also has support from the yellow trendline and has suprised most of us last week with its immense pump. So it could still break through the neckline to retry the 0.02 resistance again.
Will keep an eye on it, for a potential trade.
On the other hand, LTC also has support from the yellow trendline and has suprised most of us last week with its immense pump. So it could still break through the neckline to retry the 0.02 resistance again.
Will keep an eye on it, for a potential trade.
Comment:
LTC already broke the yellow support line this night and touched the targetbox. But now it has both this line and the blue neckline as resistance, so it might retrace further.
Comment:
LTC retested the blue trendline, but could not break through it, confirming the double top pattern. I now think that LTC might continue in an ABC correction towards the next target area.
