Hi Traders!
Today we will finally look at LTC / USD. Why now? If you're watching the crypto market actively, you probably know what has been going on for the last 48 hours. The current situation is very favorable for altcoins. Bitcoin stands in place, dominance decreases and altcoins grow. It all started with EOS / USD last week, and in recent hours, ETH / USD, XRP / USD and ZEC / USD have also joined. However, the LTC is still silent and that is why we will analyze it today. The graph looks very simple. LTC / USD moves in channels and we have two options.
1. Bullish scenario
The LTC will break the channel up and follow its altcoin colleagues, as described above. This possibility is highly probable, since it would not make sense if all altcoins had a similar graph, they eventually grew and LTC did not.
2. Bearish scenario
I find this scenario less likely and it is a reflection back into the channel and the subsequent movement in it.
We must perceive the market as a whole and take into account all its signals. Each coin lives its own life, but we must not forget the global perspective. Large altcoins have very similar structures and the whole growth started last week by EOS. Only then began to add more coins. Will the LTC be different? We will see in next few hours.
May the crypto be with you!
Today we will finally look at LTC / USD. Why now? If you're watching the crypto market actively, you probably know what has been going on for the last 48 hours. The current situation is very favorable for altcoins. Bitcoin stands in place, dominance decreases and altcoins grow. It all started with EOS / USD last week, and in recent hours, ETH / USD, XRP / USD and ZEC / USD have also joined. However, the LTC is still silent and that is why we will analyze it today. The graph looks very simple. LTC / USD moves in channels and we have two options.
1. Bullish scenario
The LTC will break the channel up and follow its altcoin colleagues, as described above. This possibility is highly probable, since it would not make sense if all altcoins had a similar graph, they eventually grew and LTC did not.
2. Bearish scenario
I find this scenario less likely and it is a reflection back into the channel and the subsequent movement in it.
We must perceive the market as a whole and take into account all its signals. Each coin lives its own life, but we must not forget the global perspective. Large altcoins have very similar structures and the whole growth started last week by EOS. Only then began to add more coins. Will the LTC be different? We will see in next few hours.
May the crypto be with you!