Litecoin is pretty much in the same consolidation phase as the other 2 cryptocurrencies analyzed (BTC and ETH). It will either stay “trapped” between the support and resistance zones and will probably head south when the consolidation is over or it will break the resistance with a big move and continue higher. The higher probability scenario is the one where Litecoin will make a bigger correction in this region.
Ebang International Holdings Inc., a blockchain technology company held a board meeting this week and passed a resolution to launch a Litecoin and Dogecoin mining business through a combination of self-manufactured mining machines and machines purchased from other manufacturers as well as leasing computing power from other farms permitting LTC and DOGE simultaneous mining.
Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
@financialflagship do you think the March 5-15 window is where we would expect to see 120, should the breakdown occur?
financialflagship
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@LTCBagHODLR, Nobody knows for sure. Corrections move on the X axis, they take time. Why are you interested particularly in that window?
LTCBagHODLR
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@financialflagship the window is somewhat arbitrary, but it seems to me if we experience such a breakdown, it would occur in the first half of March. Overall, I believe we’re bullish, and perhaps a correction such as this is even healthy.
financialflagship
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@LTCBagHODLR, Yes, you're right. Every trend has it's pullbacks, it can't go in one direction forever.
Alla_Yassin
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I hope it goes well after a correction
Good job :)
financialflagship
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@Alla_Yassin, Thank you. Yes, let's wait and see 😊