Is LTC going to errupt out of its triangle consolidation and shoot up in price soon?
Is LTC going to errupt out of its triangle consolidation and shoot up in price soon?
Article by : Rapta
I am in no way an expert trader but I mine Litecoin so I have some interest in its success, so I read about the subject as any person in my position should. Lately a lot of the talk has been about Litecoin's triangle consolidation. I understand this to mean that the price is dialing in and the currency becomes less volatile. I've been watching the LTC market like a hawk and I've noticed that price of LTC hasn't fluctuated very much (except for when the fake news about Korea banning Crypto shook the market). However, today I noticed that today its starting to trend up again. It could be good things. We've seen LTC reach $350+ hopefully people see the lite and this ball starts to roll. Hopefully not just wishful thinking XD
Not yet, the recent 400%+ gains in the past 6 weeks will take some time further to consolidate. Expect some range-bound trading. Note how the gain in the past hour, as impressive as it might look, is within the descending triangle, ie it is continuing to correct.