Litecoin (LTC) - Nr 2 - Flating in short term
Litecoin is very similar to the Ethereum’s chart from my last post yesterday. LTC is trying to gain strength to walk to the top of the blue channel, but in the very short run finds a resistance around $ 190 as shown in the orange retangle.
It is expected that the next candles will be able to break through this resistance to gain space to return to reach $ 200.
The volume remains low, making price recovery dificult. RSI is confortable, giving space to any direction move.
We should have a definition of a price trend in short term in the next two days.
I’ll keep you updated.
Obs.: Do not take any material or analysis in this blog as a recommendation. It's just my opinion and this is not a financial advice.
nice analaycis
Thanks @amirul
I hope help our community! 😃
This comment has received a 0.37 % upvote from @booster thanks to: @hridoy1.
Nice analysis, while looking to the chart and reading your description, it all makes sense. This is good news. Litecoin becomes more accepted for regular cryptopayements so it should be one of the first coins to make a move upwards. This could be a good start. Thanks for your clear and detailed analysis.
I hope Litecoin hit $200 again to get strenght to recovery move. Breaking news about new partnership or payment solution could be a spark. Thanks for the comment.
i knew when bitcoin transactions costs started to rise, some company's switched from bitcoin to litecoin payements buth in the last few weeks, i didn't see any new company's making te jump.
Lightning Network is a technology that can reduce Bitcoin cost transactions. I recommend that you be diversified in your positions.