Hello Crypto fam,
Note: This is not a trading advice, but just my interpretation from the chart.
Let's discuss some levels here.
As you can see the rising wedge, currently LTC is trying to break that upwards. We all know that rising wedges are bearish, but this is Crypto and all this is pretty much baseless as we all know :P
Jokes aside, for a healthy move upwards, it'd be best for LTC to come down to around $136 levels, touch the bottom trend line and make a move upwards from there. If LTC breaks the bottom trend line downwards, then we're probably heading down to the support levels marked.
As we can see that LTC has been fighting to break the trend line upwards. Its already tried 3 times and that is not a good sign. That just means that the sellers are stronger than the buyers at that point. So unless we can get a good buying volume, we can assume that it'll go down from here if it fails a few more times.
Also if we look at RSI, it is kinda pretty high which gives us a bearish sign.
I've marked some resistance levels if LTC do break the trend line upwards and goes up.
Make sure you're also following BTC before getting into any ALTs at this point. Trade safe. Wish great success for yall.
Later...
Note: This is not a trading advice, but just my interpretation from the chart.
Let's discuss some levels here.
As you can see the rising wedge, currently LTC is trying to break that upwards. We all know that rising wedges are bearish, but this is Crypto and all this is pretty much baseless as we all know :P
Jokes aside, for a healthy move upwards, it'd be best for LTC to come down to around $136 levels, touch the bottom trend line and make a move upwards from there. If LTC breaks the bottom trend line downwards, then we're probably heading down to the support levels marked.
As we can see that LTC has been fighting to break the trend line upwards. Its already tried 3 times and that is not a good sign. That just means that the sellers are stronger than the buyers at that point. So unless we can get a good buying volume, we can assume that it'll go down from here if it fails a few more times.
Also if we look at RSI, it is kinda pretty high which gives us a bearish sign.
I've marked some resistance levels if LTC do break the trend line upwards and goes up.
Make sure you're also following BTC before getting into any ALTs at this point. Trade safe. Wish great success for yall.
Later...