However, before we get too excited, we can see that price is currently testing falling overhead resistance (blue .) So, we will have to contend with that in the near future, but I want to point out something even more interesting. If you'll notice, LTC appears to be completing the right shoulder of the inverted pattern, ahead of any similar movements in BTC . So, perhaps LTC is leading the market right now, which it has done in the past. I can recall several occasions when LTC moved hours or even a day or so before BTC and others. So, I would be on the lookout for similar movements in BTC and the rest of the crypto space.
With that said, LTC needs to hold support above the 50 , and break out above the downtrend resistance in blue. That would open up the possibility of a powerful advancement toward the 47.20-49.14 level. On the , we can see that it is now beginning to expand to the upside, as it crosses above the zero line, which is a technical buy signal. However, a breakout above the falling blue resistance would be needed to justify any further accumulation here.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***