I was not expecting that drop but I was happy to see LTC bounce off its main support line. We are in the process of testing it again though, and currently going off the stoch rsi and BB bands, it looks like we could reach $205 again. That is our main support, and if that is broken, then I expect us to bounce off the lower $200's for a while.
If we see a turn in direction, we will need to get past $218 so we can break the short term pattern of lower highs. If we can get past that then $222 will be our next target. We could not get a candle closed past that mark since the end of 2/26 so that is very much needed for Litecoin right now.
I am hoping LTC will decide to move sideways between $205 and $222. I expect us to bounce off our support quite a bit, and hopefully with some volume we can get a good enough boost to continue this.
I will update this if I see that our support has been confirmed broken, or if a new uptrend has started. Check out my previous day TA'S in the related ideas section and follow/like if you would like to stay up to date with my daily TA's. Thank you guys.
If we see a turn in direction, we will need to get past $218 so we can break the short term pattern of lower highs. If we can get past that then $222 will be our next target. We could not get a candle closed past that mark since the end of 2/26 so that is very much needed for Litecoin right now.
I am hoping LTC will decide to move sideways between $205 and $222. I expect us to bounce off our support quite a bit, and hopefully with some volume we can get a good enough boost to continue this.
I will update this if I see that our support has been confirmed broken, or if a new uptrend has started. Check out my previous day TA'S in the related ideas section and follow/like if you would like to stay up to date with my daily TA's. Thank you guys.
Comment:
....we really like hugging our support don't we....
Comment:
Well, support has been broken. Lets see if $200 will hold up. could see $190's again soon though if we dont get back to the upper $200's soon.
