VincePrince

Litecoin, Incoming Reassumption Will Visit Remaining Levels!

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Hello Traders Investors And Community, welcome to this analysis where we are looking at litecoins 12-hour timeframe perspective, the recent events, the current price-action-formation, what to expect the next times and what litecoin needs to show to confirm the proper scenarios. The huge falling resistance which litecoin still has confirmed another time to the downside with a heavy protracted volatile bearish move and not only this but also with a bearish engulfing candle which confirms this strong move. Currently it shows a recovery but the big question will be if this recovery is strong enough to consider a cotinuation or if litecoin will visit lower levels before this happens. In this case I detected some important levels to look at and what it needs to provide.

Looking at my chart you can watch ther that litecoin just forms a little upside consolidation and recovery but as this movement is really not strong enough at the moment there is a higher possibility given that litecoin continues with another bearish leg to the downside where it needs to allocate and test remaining support levels in the structure on vailidty. These are firstly the 100-EMA marked in red and the 200-EMA marked in black where litecoin can confirm and stablilize, otherwise when this does not happen and litecoin closes below there is the next important support between 49 and 50 which need to hold otherwise litecoin can show more bearish downside when falling below this level which will be a crucial scenario in this structure.

Overall litecoin has potential to establish more bearishness on the short-term but there are also remaining support levels where it can stabilize, only when these supports do not hold there can be a ongoing bearish continuation in sight. The cryptocurrency space is sending highly different signals as the spread and differences widens in the individual currencies the market isnt what it was two years ago, the divergences will increase over the next times as there is a sorting out of innovative solid projects and others which can not hold the pace similarly to stock market crashes like the dot-com-bubble in the beginning of the current century we live in. In this case it is important to differentiate the cryptocurrencies to trade them individually accordingly.

In this manner, thank you for watching, support for more market insight and have a good day!
"Prognostication means looking forward in market destiny."

Information provided is only educational and should not be used to take action in the markets
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Comments

Ltc frist target 75$, all indicator patternt giving bulliish scenario
+1 Reply
@odbash, Interesting suggestion, you are welcome.
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Post your comments, questions, and ideas about LITECOIN here.
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