I'm holding LTC, so I'm happy to see the current rise, but I'm a bit worried about the current pattern forming. The rising trading range seems to be narrowing, forming a rising wedge. This can be a sign of buyers exhausting themselves against stronger sellers. Eventually such rising wedge will fail and prices will drop. Best case scenario's for those going long is that this would be a brief correction before further growth, provided it stays over 58 euros.
Note
Danger averted! LTC broke out of it's wedge in an upward fashion! Up ahead is some resistance at 69, but if it breaks that, we might see growth straight towards 80 (it's record height)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.