LTCUSD Has officially recovered from its bulbous shaped bubble as of December 2018, the MACD showing divergence to the bearish market as early as August 2018. However, I am not convinced it has returned to the previous arcing trend. There appears to be a convergence of highs and lows that is a bit too conservative for what is a volatile asset.I forecast that there will be a breakout downward followed by much volatility in order to correct for this rapid and consolidating growth pattern. The volatility is trending both up and down signaling a new move possible towards the end of this month, early next month.
I've marked what I believe to be the new support and resistance lines in yellow.
The general trend is still up, but a correction is in line first. In fact, I have proposed a crypto bull run early-mid next month in the linked articles thanks to Ethereum driving above 150. Litecoin will see a similar run, but not without taking a bit of a dive first.
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Disclaimer
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.