Happy monday everyone. Litecoin hasn't been to exciting the last few days. We have been closing in a newly formed pennant (green trend lines). We still have a few days before that closes in, so I expect us to continue moving sideways bouncing off both the support and resistance. This could of course change any moment as you know with cryptos.
Currently, we are trying to maintain our short term support of our current bullish pattern. The Stoch Rsi is suggesting a bounce off the support as expected, but lets see if it can hold up. If we want to continue this trend, we will need to get past the $216 mark. That is where our main resistance is and breaking that will break our current pennant that I mentioned earlier. Personally, I expect us to bounce off it, but you never know...
If we do break our current short term support, our next main support will be in the upper $200's. I don't expect us to go any lower than $206 unless the volume increases and there is a sell off.
I apologize that I have not posted any new updated TA's last week. I have been busy with mid terms and just now caught a break. It worked out though because LTC has pretty much only been moving sideways and nothing to crazy has happened.
If we break our main resistance or support, I will update this. Otherwise, I expect us to continue moving sideways.
Check out my previous day TA'S in the related ideas section and please like/follow if you would like to stay updated with my daily TA's. Have a great guys
Currently, we are trying to maintain our short term support of our current bullish pattern. The Stoch Rsi is suggesting a bounce off the support as expected, but lets see if it can hold up. If we want to continue this trend, we will need to get past the $216 mark. That is where our main resistance is and breaking that will break our current pennant that I mentioned earlier. Personally, I expect us to bounce off it, but you never know...
If we do break our current short term support, our next main support will be in the upper $200's. I don't expect us to go any lower than $206 unless the volume increases and there is a sell off.
I apologize that I have not posted any new updated TA's last week. I have been busy with mid terms and just now caught a break. It worked out though because LTC has pretty much only been moving sideways and nothing to crazy has happened.
If we break our main resistance or support, I will update this. Otherwise, I expect us to continue moving sideways.
Check out my previous day TA'S in the related ideas section and please like/follow if you would like to stay updated with my daily TA's. Have a great guys
