We've made an awesome run, but it's unrealistic to expect endless rally without a pullback. RSI has been showing way overbought, MACD lost momentum and reversing down.
I believe it'll pull back and get support around 195-205 range, before continuing upward trend up to $300.
I would not recommend making any entries until LTC makes a correction to a more stable price.
Trade smart, dont follow the goats off the cliff. Make your own research.
Been doing analysis for a while, but first time publishing here, so let me know any suggestions or comments.
I believe it'll pull back and get support around 195-205 range, before continuing upward trend up to $300.
I would not recommend making any entries until LTC makes a correction to a more stable price.
Trade smart, dont follow the goats off the cliff. Make your own research.
Been doing analysis for a while, but first time publishing here, so let me know any suggestions or comments.
Note
If support fails, we might have a repeat of very similar setup from August... Not very likely with the boom in cryptocurrencies, but always consider worst case scenarios.
Already showing sign of direction reversal. Wait for candle close under resistance bar for confirmation of downtrend.
Note
I underestimated people's stupidity with my analysis. Panic buying with fear of missing out is inflating price and making even more unstable... 57% increase in 24 hours is not sustainable. For reference:
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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.