Litecoin is one of the coins that outperformed all other coins in momentum and price gain. We know the Litecoin halving is coming and that might have a huge influence on the price. The halving will be in 60 days (6 august). If we look at the history, the halving has always been a buy the hype, sell the news project on short term, but on the long term price actions do rise to the upside mostly. Completely logic, if you look at market perspective. Less supply, means higher demand.
Personally i would wait for a short term correction on Litecoin before investing. I would never recommend buying into a parabollic price gain Litecoin had the previous days. How far will it go down? I don't know. Most likely to previous higher lows, which is $120 or if we break that we go back to $100. We might see a bullflag forming and that could be the sign to step right in on the $120 mark. If we see a double bottom on the $120, i am going long on LTC.
$80 is still a possibility, but highly unlikely in my opinion with the Litecoin halving in sight. I have set my eyes on the $120 and $100 range. Ofcourse Litecoin could go even more parabollic and make higher higs, but i think the momuntum on the RSI and MACD is too overstreched which signs a short term correction.
What do you think? Will Litecoin set itself to higher highs or will it correct? Share your ideas with me please.
Disclaimer:
Don't take this as a financial advice, always drawn your own conclusions. Please share your thoughts so i can improve.
Thank you.
Personally i would wait for a short term correction on Litecoin before investing. I would never recommend buying into a parabollic price gain Litecoin had the previous days. How far will it go down? I don't know. Most likely to previous higher lows, which is $120 or if we break that we go back to $100. We might see a bullflag forming and that could be the sign to step right in on the $120 mark. If we see a double bottom on the $120, i am going long on LTC.
$80 is still a possibility, but highly unlikely in my opinion with the Litecoin halving in sight. I have set my eyes on the $120 and $100 range. Ofcourse Litecoin could go even more parabollic and make higher higs, but i think the momuntum on the RSI and MACD is too overstreched which signs a short term correction.
What do you think? Will Litecoin set itself to higher highs or will it correct? Share your ideas with me please.
Disclaimer:
Don't take this as a financial advice, always drawn your own conclusions. Please share your thoughts so i can improve.
Thank you.