It looks like LTC is doing some tricks to really disappoint people into letting it go (sell) before the next big rally.
Lest time it went to 254, it went down doing exactly the same patterns as it did falling from 370-400 usd. Now the next repeat trend is exactly this. Up from 108 to 166, and then down just like the last two times, from 370 and from 254. As a HODL-er, this will disappoint me if it really goes back at 108 again. It will be hard to love LTC again, but i'm not gonna sell. No at these prices, maybe i would sell if we go above 400, or at 500 usd. I really think we will see LTC 520 this year (10% deviation either side).
If you see any rally of any coin, first it goes down hard, then it rallies free of bears. Don't trade this idea, altho' 150 is not a bad price if you plan to HODL
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'last time'
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It looks like LTC is going under one more time than maybe attack the All Time Highs again?
LTC may be dipping down slightly more, attempting to finish its final correction leg at C. Then starting a new Elliot wave cycle. Bouncing back up between the 38.20 and 61.80 Fib Retracement level at 1.
It continues to struggle to break the $155 price mark, and hopefully on this 2nd wave it will push through that, making its way to $160 as predicted!
24 hr volume is $347,774,000 USD
Overall since April 11th, for about 10 days, the OBV- On Balance Volume shows increasing buying volume. Taking a halt on April 21st, then leveling out for about 10 days or so as well. We need to see the OBV rise steadily again.
LTC is staying 14 dollars above the 200 MA level. Decisively, in between the 50-100 MA seems to be the middle ground consolidation range for the next few days on LTC.
If it breaks down and thru the heavy support of $141, then it will spell really struggling trouble for LTC. Watch BTC since LTC does not run independently on its own!
Special Note: A falling wedge as you see on this TA indicates a Bullish Reversal Overall. I believe the price of LTC will bounce back up.
PS: This is not financial advice and only for education purposes. Perform your own TA!
If you learned even one thing, then like my TA and follow me to support my channel.
You drew a descending wedge, which is bearish. And they don't breakout at the tip, they breakout a bit sooner - about 2/3 the way or so.
And LTC is historically a terrible coin to hold outside of a confirmed bull market, why do you think Charlie made sure to sell the top this time? Its falled from $5 to $.50 and then from $42 to $2 in 2013.
Trader18379
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@Tatterz, it is just one option. Charlie does not know how coins will behave more then you and me. He sold LTC at 4 usd. He is not a future prediction wizard. No one knows. I'l a crypto bull so if all prices will increase in the future, so will LTC as it is strongly connected to BTC. But my opinion can not stop the price to break out now, or never :)
It continues to struggle to break the $155 price mark, and hopefully on this 2nd wave it will push through that, making its way to $160 as predicted!
24 hr volume is $347,774,000 USD
Overall since April 11th, for about 10 days, the OBV- On Balance Volume shows increasing buying volume. Taking a halt on April 21st, then leveling out for about 10 days or so as well. We need to see the OBV rise steadily again.
LTC is staying 14 dollars above the 200 MA level. Decisively, in between the 50-100 MA seems to be the middle ground consolidation range for the next few days on LTC.
If it breaks down and thru the heavy support of $141, then it will spell really struggling trouble for LTC. Watch BTC since LTC does not run independently on its own!
Special Note: A falling wedge as you see on this TA indicates a Bullish Reversal Overall. I believe the price of LTC will bounce back up.
PS: This is not financial advice and only for education purposes. Perform your own TA!
If you learned even one thing, then like my TA and follow me to support my channel.
Thanks
CryptoBuzzAnalyst