Hi everyone,
I have been invested in crypto for a few months now, recently I have been trying to understand more on technical analysis for the crypto market. This is my first post, so by no means am I suggesting any financial advice, and please feel free to correct me.
Now that we are briefly settling after a beautifully awaited spike in LTC, I see two possible options for the short term. We are sitting at the .382(206) fibonacci retracement, if there is enough volume, momentum will push LTC to the .5(238) retracement. If we can't get enough buy volume or momentum to do so, I see a fall back to the .236(167) fib retracement.
I see a wedge forming, the RSI seems to be resting at the 50-60, lets see what happens.
Hope this helps and happy trading.
4Hour Chart
Target:238