With regard to the bigger picture on the logarithmic chart for LTC, it looks like it is either time to jump past resistance (red line) or to bounce back into a wedge (between the red line and bottom white line). As always with litecoin, it is likely to follow the direction of its older sibling bitcoin in the short term. Either way, assuming that support holds in the ascending channel (white trend lines), it looks likely to be a positive trend for litecoin in April with a potential to shoot upward.
The part I always like about litecoin is how it is one of the few cryptocurrencies that has more solid and defined patterns than most. However, that also means that a break out of the white line's support could easily lead to a breakdown and a bearish trend, so that too is definitely something for which to keep an eye out. Either way, I am very interested to see how litecoin looks at the end of April.
As always, I am also curious if anyone sees any obvious trend for which to lookout with regard to the "bounce or breakout" situation. If so, please leave a comment as I would love to discuss.
The part I always like about litecoin is how it is one of the few cryptocurrencies that has more solid and defined patterns than most. However, that also means that a break out of the white line's support could easily lead to a breakdown and a bearish trend, so that too is definitely something for which to keep an eye out. Either way, I am very interested to see how litecoin looks at the end of April.
As always, I am also curious if anyone sees any obvious trend for which to lookout with regard to the "bounce or breakout" situation. If so, please leave a comment as I would love to discuss.