Hello friends, today you can review the technical analysis on a 1W linear scale chart for Litecoin ( LTCUSD ), a cryptocurrency.
1) Litecoin price has been falling since the May 2021 local high.
2) Currently the price is close to touching a multi-month support line. If price breaks the support line, keep an eye on the 0.236 Fibonacci Retracement level to possibly hold support. If price breaks that region, there is a multi-year support trendline that may support the price.
3) RSI (relative strength index) is currently being supported by a multi-year trendline.
4) Overall crypto market is not looking strong so be cautious.
5) This is a weekly chart so be patient with price action.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
1) Litecoin price has been falling since the May 2021 local high.
2) Currently the price is close to touching a multi-month support line. If price breaks the support line, keep an eye on the 0.236 Fibonacci Retracement level to possibly hold support. If price breaks that region, there is a multi-year support trendline that may support the price.
3) RSI (relative strength index) is currently being supported by a multi-year trendline.
4) Overall crypto market is not looking strong so be cautious.
5) This is a weekly chart so be patient with price action.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
