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LTC - Downtrend?LTC is more neutral than the other main coins... a bit like ETH. This support is holding a price up and might even push it up for a bit BUT I can see any strength in it... In case the price started dropping more, that other support line I put on the chart can hold the price up and cause a bounce. If you're opening long positions, be very careful and close with small profits. This market is going to drop, soon! Current Market Price: $130.50 Good Luck Tell me your ideas. Like and Share! Follow for more updates.
by ShawnMCR
LTC/USD Potential BB Head FakeLTC/USD was getting Bollinger Band squeezed by the consolidation of price between the .5 Fib retracement area and the .236 retracement area following the sharp drop in markets in mid May. Now we see that the price has tried to break downward out of the squeeze, implying what seems to be a bearish bias only to bounce up off the .236 area and enter back into the Bands. We could be witnessing a head fake, one of John Bollinger's favorite indicators with the Bands, leading to a sharp upwards movement. Firstly, we need to be sure the 200 SMA (purple line) isn't now being flipped from support to resistance, potentially rejecting price around $145 indicating we should head further down. If it does turn to resistance and adds conviction to the bearish bias, that's a big indication that it would be most advantageous to stay away from long positions. We will see within a week or two if this head fake does in fact play out and we get a nice walk up the bands with targets at: $174.81 (.382 Fib line, middle of range) and $221.85 (.5 Fib line, top of range) Another thing to keep in mind is that we could just keep squeezing for months after this head fake occurs before making any truly definitive movements. It will be fun to watch one way or another.
COINBASE:LTCUSD
by Hrempe
LTC, still a wait and see gameLTC did great breaking out of the symmetrical triangle but now we want to see confirmation and volume to support the breakout. Right now the RSI is moving up quickly with price movement not as much. Not to mention, the buying volume is still weak compared to previous breakouts. On top of that $200-$209 has been very strong resistance and if we dont get confirmation as well as more buying pressure. We may come back down to the next support line which is around $179 or even lower. Not going long or short until the direction is clear. Possible shooting star is forming?
COINBASE:LTCUSD
by gunmetalblue2010