Litecoin Short Term TA Day 12
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We reached a new high of about $256 last night, which we haven't seen since the middle of January. This is further confirming our bullish position which I am extremely happy about.
Currently at this exact moment we are in the process of testing the new set resistance of $150-155 after moving sideways throughout the night. We just touched the top of the upper BB in which we could expect a quick pullback whenever that happens. Our current short term support is at about $234.50. If this short term trend becomes bearish, then our next support after that is $227. I only expect that to happen if their is large enough sell pressure in which will make people FOMO. Litecoin is looking really healthy in comparison with BTC so I think we will be able to hold up.
I have been busy the last few days in which I haven't been able to make a TA. I was about to last night but then LTC went up $20 in a little less than an hour so I decided to wait until now to post one. Make sure to check out my previous day TA's and follow/like if you would like to keep up with the future ones.
I will update this if our resistance is broken or tested. I believe we will most likely move sideways throughout the support/resistance ranges though. But as you all know with crypto, anything can happen at any time.
Currently at this exact moment we are in the process of testing the new set resistance of $150-155 after moving sideways throughout the night. We just touched the top of the upper BB in which we could expect a quick pullback whenever that happens. Our current short term support is at about $234.50. If this short term trend becomes bearish, then our next support after that is $227. I only expect that to happen if their is large enough sell pressure in which will make people FOMO. Litecoin is looking really healthy in comparison with BTC so I think we will be able to hold up.
I have been busy the last few days in which I haven't been able to make a TA. I was about to last night but then LTC went up $20 in a little less than an hour so I decided to wait until now to post one. Make sure to check out my previous day TA's and follow/like if you would like to keep up with the future ones.
I will update this if our resistance is broken or tested. I believe we will most likely move sideways throughout the support/resistance ranges though. But as you all know with crypto, anything can happen at any time.
Nota
Quick update, We bounced off one of our supports (blue line) which was good to see. If we dip below that I would be a little worried. Not much under that is our bullish trend support, in which if we dip below that, it is possible our bullish trend can be reversed and we can go back to being bearish. That is at about $205-$207. That is still a little away, but not out of question.
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