Hello all. Here is a quick and on point Litecoin analysis/update.
Litecoin set a new higher high inside the ascending line of support which is a bullish sign. This line of support which also matches with the Fibonacci gold level sits at $170-$180.
In my opinion, $170 is a great buying opportunity and I think we will still have a retracement and retest the ascending line of support. This is due to low volume and 4 hourly RSI being over bought.
However, the RSI on the daily is in the over sold territory which makes me believe that we can bounce back to the top of the ascending channel which is a 70% trade.
From the current price and towards the all time high, fib level 161 and price $425, is over a 100% trade. This can be a great entry for all my hodlers and litecoun supporters out there.
Thanks for reading and hope this helps. Enjoy.
Litecoin set a new higher high inside the ascending line of support which is a bullish sign. This line of support which also matches with the Fibonacci gold level sits at $170-$180.
In my opinion, $170 is a great buying opportunity and I think we will still have a retracement and retest the ascending line of support. This is due to low volume and 4 hourly RSI being over bought.
However, the RSI on the daily is in the over sold territory which makes me believe that we can bounce back to the top of the ascending channel which is a 70% trade.
From the current price and towards the all time high, fib level 161 and price $425, is over a 100% trade. This can be a great entry for all my hodlers and litecoun supporters out there.
Thanks for reading and hope this helps. Enjoy.