lITECOIN/USDT LTC/USDT (Possible ABCD pattern and wave 2)
Lite coin been oversold looking at the buyer zone market may form ABCD pattern along with the wave 5 elite wave formation.
Litecoin after recent high happened last week after Charlie Lee announced that he quit working for Coinbase and will do full-time for Litecoin development market just reacted quick and too the price to $50 use a coin.
Now the chart lost the steem and the market is today overbought lost the grip in the near term support i assume the market will drop more and the...
Litecoin appears to be nearing the end of a bullish non-limiting triangle, however, this pattern still remains unconfirmed and could potentially break in either direction, but the upside seems a lot more likely based on momentum and also the general bullishness of cryptocurrency at the moment with BTC nearing all time high again.
Also since this is a non-limiting...
Litecoin has pumped hard in the past, and last two times retraced the whole pump and even more during a LONG bleeding period.
A month ago, LTCBTC found support at the bottom trendline coupled with a longterm reversal zone. There it found strenght to bounce and break a +300 day downtrend.
We can see LTCBTC is facing now a strong trendline from ATH week candle...
Litecoin looks like it had peeked and is going on a down trend. The RSI indicates that the top is over. It is to wait if the Support at $50.00 is going to be broken or not, when it is broken I would advise buying between $45.00 - $40.00.
Also note that if something fundamentally change (MAST; Lightning Network, ..), that it could take a upwards trend fast.
Litecoin is becoming relevant again. The possibility of activating Segwit will lead to a lot of speculation over the coming weeks (which is getting close to the 75% signaling target but will need to stay there for a couple weeks even if it reaches it). If Segwit does activate, get out your popcorn...
Just roughing out some lines & resistance points to try and...
Litecoin just entered a highway, with a relatively fast lane..
No major resistance on sight until $10.2 ~ $11 which is a historical resistance from January - June where many bagholders will be at. (20% gain from here)
Strong bull for the next week or so.
Litecoin is in a long term symmetrical triangle, this pattern is decreasing the price range and volume. Usually symmetrical triangles break within 70% of it's body. We should look closely to this triangle as the price moves, chart is in log scale.
Litecoin has had a small pump within the downward channel recently, this may lead to the formation of a bull flag in the blue box, or a retreat and possibility of a falling wedge. The Adam & Eve can be seen to be linked to the pump.
Litecoin path to 2022, i know this seems like a long accumulation period but it has been seen in the past and history tends to repeat itself. As a stablecoin, litecoin doesn't provide much utility in comparison to other cryptocurrencies. Also included some fib retracement levels, and some sine time lines.
Litecoin has formed a descending scallop on the daily chart, this is quite early in the formation but it looks to be forming it. Currently sitting in a weak regression uptrend, using this as a reference, it will most likely be broken. As said on chart any area here is good for a long entry. Still very cheap in retrospect.
Litecoin LTCUSD is consolidating nicely on the daily chart at around 99 there is also previous support at this level witch is good. A breakout of the 106 will be my buy signal and the bulls will run!. Also on the MACD we just got a cross witch indicates a swing change and we dont long over bought on the RSI.
Litecoin is climbing further North to reach the blue target zone between $132.29 and $154.36. Within this zone, we expect the coin to fulfill the blue wave (iii) before pulsing down to the corrective low of the blue wave (iv). After completion, the course can rocket back towards the sky to carry on its bullish trend until the pink wave finishes.
