Well it looks like Litecoin is back to being bearish for the time being. We have a base support of $190, which is the lowest it has hit in this bearish run. If that is broken, I believe the lowest we could see is in the upper 170's. I do believe we could see a falling candle hit this mark before bouncing off the trend line.
Its possible we could be seeing a pattern of higher lows like we saw in the last bear market run. To confirm this, we could see a quick run up to about $205 with a bounce off that back down below $200. $252 was the highest we reached before turning bear, then we reach bounced off about $203 and made it to $220.50 before reversing again. That $220.50 will be our main resistance in order to reverse this current trend.
Sorry for the short analysis but I will make sure to update this if $190 is broken. Check out my previous day TA's in the related ideas section and like/follow if you want to stay up to date with my daily TA's.
EDIT: You can't see but I labeled "A" in the upper 170's as a good place to put some buy orders in case it does reach that low.
Its possible we could be seeing a pattern of higher lows like we saw in the last bear market run. To confirm this, we could see a quick run up to about $205 with a bounce off that back down below $200. $252 was the highest we reached before turning bear, then we reach bounced off about $203 and made it to $220.50 before reversing again. That $220.50 will be our main resistance in order to reverse this current trend.
Sorry for the short analysis but I will make sure to update this if $190 is broken. Check out my previous day TA's in the related ideas section and like/follow if you want to stay up to date with my daily TA's.
EDIT: You can't see but I labeled "A" in the upper 170's as a good place to put some buy orders in case it does reach that low.
Comment:
Looks like we touched 190 briefly again, we might have retest of the short term resistance before LTC tries to make another move below it.
