Litecoin Afternoon Chart Update - Reversal?
Things were off to a great start this morning with Litecoin. We took down resistance walls like they weren't even there. The coin kept rising all the way to $46.72, then we trickled back down, and tried to break $46.50 again, and failed again.
This formed a double top on the 12hr chart and short term, it seems like we will lower, but fret not, we just need to maintain $44.50, if we can do that we are fine. Stop loss is at $44.49, if that breaks then I think we test $43 again which is the major key.
Long term though, the chart is in great shape, and is making the correct moves and formation for continued growth.
Support: $44.50, $44
Resistance: $46.50, $47.50
I've been in since around $20 mark, so I've been watching closely. The upper $40s have been a brick wall to try and breach. This is a long-term hodl for me, though, so I'm good with watching the action play out. If it can ever take out $50, look out!
Agreed. $44.50 just got taken out, needs to rebound from $44, but don't see any reversals right now. You're long so you'll be find overall.
I've been holding since the mining day of 2012-13.... and the $50 is a hard wall to break thru. Getting closer and closer.