LTCUSD - Assuming continued downtrend
This chart assumes the downtrend will continue within its channel, as it has been. I copied the previous price movement and imposed it into the future as a rough estimate. I am not convinced that it will continue as far down as I have projected it, but I do think it is possible that LTC will retest $100 support again. Whether or not this will happen, or if the support will break is anyones guess.
Note
Obviously I don't think litecoin will go that low. I don't think it will get anywhere close to testing 60 or 70, but nothing is out of the realm of possibility. I think we can expect lower 100s to happen again, but if anything close to this chart occurred, we would be talking about a serious problem, something fundamentally game-changing.Note
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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.