Litecoin is in a very critical area at the moment, currently at 135.15.
The pennant has been formed from earlier this month, and it is a Bullish pattern. But if the price line is broken, and a 2H or 4H candle opens and closes below it, then the LTC is going to go further down.
LTC is resilient though and might hold the price and work it's way higher. But time will tell...
The Stochs on 1H are about to cross upwards, the 4H are low and looking like they soon will gain positive momentum, but 8H, 12H and 1D all are very mature and are sloping down. So who knows, maybe Litecoin will have a pull back downwards on a more medium time frame.
The lower time frames are suggesting that this area holds, and might go up a bit more, but the higher time frames are extended and don't seem to have much fuel left in the tank for a bullish push.
Now is a time to be neutral, and just to watch and see what happens, well that's what I will be doing at least.
The pennant has been formed from earlier this month, and it is a Bullish pattern. But if the price line is broken, and a 2H or 4H candle opens and closes below it, then the LTC is going to go further down.
LTC is resilient though and might hold the price and work it's way higher. But time will tell...
The Stochs on 1H are about to cross upwards, the 4H are low and looking like they soon will gain positive momentum, but 8H, 12H and 1D all are very mature and are sloping down. So who knows, maybe Litecoin will have a pull back downwards on a more medium time frame.
The lower time frames are suggesting that this area holds, and might go up a bit more, but the higher time frames are extended and don't seem to have much fuel left in the tank for a bullish push.
Now is a time to be neutral, and just to watch and see what happens, well that's what I will be doing at least.
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