Hello traders ! Here is my view on LTC/USD. As you can see price is at a critical zone with multiple WEEKLY candle touches around this price. (this zone also held a strong resistance back in 2013, not shown in this chart)
Price action is following the pitchforks descending support level quite nicely, and due to its oversold nature via oscillators shown above, I suspect a change in trend is looming. Of course if we break this level, and hold as resistance, we can expect quite the opposite. But if we manage to create some higher highs/higher lows and climb to the top of the pitchfork channel, gives us roughly a 40 % increase.
Just my two satoshis, and happy trades everyone!
Price action is following the pitchforks descending support level quite nicely, and due to its oversold nature via oscillators shown above, I suspect a change in trend is looming. Of course if we break this level, and hold as resistance, we can expect quite the opposite. But if we manage to create some higher highs/higher lows and climb to the top of the pitchfork channel, gives us roughly a 40 % increase.
Just my two satoshis, and happy trades everyone!