Cryptos are on the rise again, with Bitcoin (BTC) reclaiming the $4100 level, and Ethereum (ETH) around $320.
But whats going on with Litecoin? It seems it just can't get going.
Litecoin trades much differently than other coins. It seems to always have a large rally, then trade in a large sideways range until the next pop.
I think we are getting close to that pop...
If LTC holds the major support line (The Red Line) on the 4hr chart above, and can break resistance around $50, I think we will have a substantial rally to new highs. BUT...if volume does not come in with the rally, we will likely fall back to lower levels ($47ish) after the pop.
If LTC does not hold the major support line (The Red Line) on the 4hr chart above, the could be the start of a downtrend for Litecoin.
My Prediction: I think we will hold the major trend, and the rally will come within the next week or so, let's hope volume follows to hold the new levels.
What are your thoughts?