Hi friends! Here is a quick look at the hourly action on Litecoin! If you follow me on Twitter (@MagicPoopCannon) you know that I dropped a tip that the bulls were stepping into the market today. Since that post on Litecoin, LTC has continued to rally into overhead resistance, at $26.33. Momentum continues to expand upwards on the MACD, but volume is starting to die off. From here, we can see that if LTC gets above the bottom red trendline resistance, the next resistance level will be the pink falling trendline, somewhere near $28. A break above the pink trendline would show undeniable bull presence, and price would then be likely to test the $30 level.
As I said, that all depends on whether or not LTC can rally above $26.33 here. If the $26.33-$26.40 area acts as resistance, prepare for all new lows in LTC.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Great Master, I have benn following you for more than 1 year, you are the best of all, also you gave me confidence at al my trades, thanks to be here, you are my crypto guide .. I wish you all the best ever
BDG
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There was one large volume spike (4x average) and then volume has fallen off. I don't think LTC has enough momentum to reach the pink trendline, let alone break through it. If we had more volume (power) then sure. We need more power! We need to get this hulk moving ...