And now, my fellow crypto lovers, I'd like to draw your attention to the star of this analysis — the MACD! As you can see, the has formed two low troughs. Each of which, has been higher than the last. LTC, on the other hand, has continued to trend lower. This is a , and a possible clue to a major reversal. With that said, like all analysis, it is CONDITIONAL. We need to watch the , and the price action closely. Specifically, we don't want to see the break the rising green dotted , and we definitely don't want to see it make a lower low. People have been pressuring me to produce a reversal signal, and this is something that could POTENTIALLY be a signal of a bottom forming. Keep in mind though, if the is broken, it would be negated as a potential reversal signal. We can see that a crossover has also occurred on the , confirming the return of the buy-side pressure. This indicator, coupled with the , and the large presence of buy-side , leads me to believe that a bottom could be forming here. Remember, we can't confirm these indicators as a true reversal, until we see a breakout above the . Stay safe out there my friends, and keep an eye on the 50 EMA!
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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