LTCUSD: Nice bump but looks like more room for a drop......
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Overall macro trend of the LTC drop appears to be slowing down in this over all down trend that started June 2019. I agree with some of the others posters that we are just starting or are very close again to a reaccumulation zone and/or "bottom".
We had a nice bump this last week in LTC price but we are currently in an overbought zone with what looks like going to be rejection at the 44-45$ price. There is certainly more room for another drop or two in the coming weeks before we see the "actual" bottom for those looking to pick up LTC at an even cheaper price to go long with.
There has been MACD bullish divergence on the 1D and 3D charts for a while now but there is no crossing-over yet of the MACD on the 1W chart and the 3D and 1W MACD levels are still well below the 0 baseline level. The average volume is also relatively still very low and also needs to pick-up.
Good luck and happy trading.
We had a nice bump this last week in LTC price but we are currently in an overbought zone with what looks like going to be rejection at the 44-45$ price. There is certainly more room for another drop or two in the coming weeks before we see the "actual" bottom for those looking to pick up LTC at an even cheaper price to go long with.
There has been MACD bullish divergence on the 1D and 3D charts for a while now but there is no crossing-over yet of the MACD on the 1W chart and the 3D and 1W MACD levels are still well below the 0 baseline level. The average volume is also relatively still very low and also needs to pick-up.
Good luck and happy trading.
Nota
Bigger bump!! Time for correction.Nota
Resistance @ $63 and again time for correction- maybe between 50-45ish area??
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