TheChartGuys

LTC Base of Support at $56

COINBASE:LTCUSD   Litecoin
Although it does not fit the exact definition, this pattern on the hourly is close to the descending triangle.
We have a base of support at $56 after multiple holds of this level, with lower highs of bounces each time.
Bulls have to break the lower highs to shift momentum in their favor, and a break of $56 should see stop losses trigger.
Weakest of the big 3 the last couple days as ETH and BTC are testing resistances.
No entries without bulls proving volume and momentum from here.

Checkout our full trading resources online www.chartguys.com

Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.