Hey Traders,
As you can see, the Litecoin Dominance Spikes are primarily found using the normal 0.236, 0.382, 0.5, 0.618, 0.786, and 1 levels. Based on this, we can expect the next run-up for Litecoin to be July 13th! Dominance will 100% keep falling until then but yeah, the peak will probably be where we are at now... assuming BTC has rallied, the current market...
LTC was develpped in October 2011 by Charlie Lee. It has since fallen from being a top 5 market cap coin to 12th.
Even though this coin has been in a dominance downtrend for the last 5+ years, its fundamental tech has continued to improve, due to the severe lack of news surrounding this coin I truly believe this could be a major competitor for a major future...
Mirroring 0.618's climb within the circle
1.618's climb within the circle may result like this
A result of this would be temporarily extremely bullish for LTCUSD
Since there isn't an index that specifically breaks out the top nine alt coins in regards to dominance I made this one up. TOTAL2 and OTHERS both look at large cap alts while excluding BTC but OTHERS excludes large cap alts and neither specifically looks at the top 10 excluding BTC. I chose baseline plot as candles had too much noise. I'll update this idea with...
LTC/BTC is at relative atl's showing quadruple hidden bullish divergence with a breakout and backtest of a descending wedge... ltc.d is at relative lows as well and showing hidden and class A bullish divergence on multiple time scales. Litecoin is being heavily suppressed by whales/exchanges because they dont have enough bitcoin for the coming ratio explosion....
Still in the downward channel with daily bearish divergence at the channel resistance with rejection. Can go to the bottom of the channel. Even if it breaks out of the channel, 1.37 is a very strong resistance because it was historical support now flipped resistance. XRP incredibly, crossed over it's historical support, but it was a fakeout as everybody knows.
Must breakout of descending channel, must break over historic support to change trend. Now hidden bearish divergence on the weekly. The pump was cause by a weekly real bullish divergence, but the question is how long it will go.
I am sure those who bought the top in 2019 starting to feel some relief.
The path is clear. It is a miracle it came back to $80. No one should be retarded to invest in this useless outdated coin. This is a lucky chance for hodlers to unload.
Broke down from the descending channel and now testing channel's previous support. There is chance it goes back in the channel, so this needs confirmation.
The weekly candle seems it will close red. It is the second weekly red candle after rejection from resistance. Bearish trend is confirmed with RSI crossing below %53.33. MACD positive but sloping down.
If by Sunday dominance does not breach this resistance at 1.81%, then it is considered a rejection which is bearish and moon is delayed till end of the year or LTC can drop further and perish.
If resistance is breached then LTC will moon now.
It looks like alts season, but looks are deceptive. 1.85% market cap must be surpassed to confirm Alts season for LTC. Although 1.36 appears to be the bottom, further downside is possible.
