The protracted consolidation in the LTC market is coming to an end. Before the consolidation, 2 unpleasant events happened. Unfortunately, buyers were unable to keep the boundaries of the trend channel, in which the price moved from December 23. In addition to the trend line, buyers lost an important range $220-230, from which the LTC price began a new wave of growth and renewed its high.
On the positive side, however, buyers have managed to maintain control over the range of $158-168. This price zone saved the LTC market from February to April. It is this fact that gives buyers a great chance to continue the price rollback to $220-230. In the short term, this is our main target.
Globally, the range of $220-230 may only be the first stop on a buyers journey. By holding the price zone of $158-168, buyers will secure themselves a medium-term price vector with a target of $280. It is in this mark that the future fate of the LTC market will be decided.
The main task of buyers at the moment is not to lose control of the market over the weekend. Well, let's see how they do it on Monday. _______________________________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
Great analysis, but it really depends on the health of BTC, feels like the alt-coin market is moving sideways
P_S_trade
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@epiclegendaryman, at the moment the altocin market looks stronger than BTC. Stopping the price of BTC in consolidation can have a positive effect on altcoins.