LTC lost its last hope of staying in a bull market. Despite being oversold, LTC sold off another 13% amid SpaceX BTC sale, Evergrande default, Federal Reserve may continue to raise rates, and SEC appealed XRP case.
From here, being very oversold on the RSI, I expect the price to at least retest the bottom of the rising channel. Next, LTC should follow the falling channel until it reaches the measured move of the symmetrical triangle around $40.
The broader crypto market is being hit from all angles with exchanges that lose users funds, SEC lawsuits, legislation to ban, and institutional dumping. We may see a relentless drop until an ETF gets approved.
Not financial advise. Entertainment purposes only!
From here, being very oversold on the RSI, I expect the price to at least retest the bottom of the rising channel. Next, LTC should follow the falling channel until it reaches the measured move of the symmetrical triangle around $40.
The broader crypto market is being hit from all angles with exchanges that lose users funds, SEC lawsuits, legislation to ban, and institutional dumping. We may see a relentless drop until an ETF gets approved.
Not financial advise. Entertainment purposes only!