This is an update from my previous Litecoin read where I said $218 was the next long target placed at the 2018 local high. When Litecoin follows the path Bitcoin and Ethereum have been taking on this reversal, its going to hit the weekly resistance at $262.
From here, I wouldn't be surprised if Litecoin sees the rest of this week in accumulation either after wicking off the $218 level or coming back down and retesting the $183 level before breaking out of the valley formed from the previous dump.
This upwards channel is the bottom in terms of price for Litecoin, for months on months we've seen this channel very well respected for LTC with only minor dumps down into the channel.
Litecoin could get squeezed in between this channel and a level of either support or resistance until it breaks out upwards. It is only a matter of time before it breaks out to the upside. Also to note, MimbleWimble on LTC live March 15th, 2021. So at the end of this week there is news that is perfectly timed to the price action of Litecoin... coincidence?
What is Mimblewimble?
Mimblewimble is a blockchain protocol that allows for a completely private transaction platform through a unique security framework that is markedly different from that of the pseudonymous Bitcoin cryptocurrency. In Mimblewimble, there are no addresses and transactions are fully confidential.
Thank you traders for all your continued support whether it be a like, comment, or follow. I appreciate all of it and will continue to give you all my views on the market. 🥂
From here, I wouldn't be surprised if Litecoin sees the rest of this week in accumulation either after wicking off the $218 level or coming back down and retesting the $183 level before breaking out of the valley formed from the previous dump.
This upwards channel is the bottom in terms of price for Litecoin, for months on months we've seen this channel very well respected for LTC with only minor dumps down into the channel.
Litecoin could get squeezed in between this channel and a level of either support or resistance until it breaks out upwards. It is only a matter of time before it breaks out to the upside. Also to note, MimbleWimble on LTC live March 15th, 2021. So at the end of this week there is news that is perfectly timed to the price action of Litecoin... coincidence?
What is Mimblewimble?
Mimblewimble is a blockchain protocol that allows for a completely private transaction platform through a unique security framework that is markedly different from that of the pseudonymous Bitcoin cryptocurrency. In Mimblewimble, there are no addresses and transactions are fully confidential.
Thank you traders for all your continued support whether it be a like, comment, or follow. I appreciate all of it and will continue to give you all my views on the market. 🥂
