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Litecoin Breakout!!LTC has started to move to the upside after having a period of sideways movement as seen by the horizontal yellow rays, we have broken out of this sideways channel which could also be looked at as a bullish triangle which ive also drawn in, another crucial level we have taken out well looking like we will take out (have to wait for daily close at 8PM EST) is the R1 resistance level which is very bullish, we could've gotten rejected off of this level but Litecoin is showing some strength pushing through, a close above here will open the door for a push up to the 222$ resistance level, pretty heavy resistance but with some good momentum we should be able to push through, also on todays candle we have wicked up and above this level which is already weakening the level. 1 more near term target is the resistance at 247$-250$ level, we historically have had some problems getting up and above this level but with the upcoming surge in the markets im sure this is on the table. Something very bullish coming from the bollinger bands is we are directly ontop of the top band, and if we see a daily close up here we could see an explosive ride up the top band very likely bringing us to that 247$ level. Now lets look at the MACD, we are looking alright here we just had a bullish cross but i would definitely like to see some more bullish action to confirm this. we had a 1 day bear cross just before this bullish cross, we had a red bar right before todays bar, we want to see increasing green bars indicating a rise in bullish momentum, if we continue to stay flat or decrease we would be looking at another bear cross, another key thing i want to see is that Blue MA start to really take off from the orange MA, we need to see some separation or we risk a bear cross off of a small sharp downside move from price action, having good spread in the MA's lessens the chance of having a near term bearish cross and it also allows price action to have some room to go down for a couple days without triggering a bear cross! Not financial advice just my opinion!
COINBASE:LTCUSDLong
by JacobR905
LTC/USD ChartOne last correction for LTC before the coin starts to break resistance levels? The chart patterns looks very similar and the MFI seems to be going down, so the coin might start to go down. I still think LTC can be a 2X coin in the bull run, but a drop to 167$ seems a probable scenario since BTC is also correcting. Tell me what you think. Also if you could check my AVAX chart from yesterday I would be grateful since it was a correct prediction and took some time. Comment, like and follow.
COINBASE:LTCUSD
by Devan-CryptoCharts
Litecoin set for a big run!!?Litecoin has been rebounding very nicely recently taking out the 0.2 FIB at 177.55 and the crucial pivot point which we have held for the past few days. This level is very important because it signals a turn around in the market and by holding above here we can expect to see some upside, we don't want to breakdown and fall below so keep an eye on this level. We are currently facing resistance as im writing this and our next significant points of resistance after taking this level out would be the R2 resistance at 218 and then heavy resistance shortly after at 220$ finally the last heavy point of resistance we will talk about today is the 247$ which we always seem to struggle with, if we can successfully take this level out we are looking very very bullish! Now check out the bollinger bands, as you guys can see just today we are starting to grab onto that top band which is always a great sign, if we can continue doing so we will be looking at a big rally riding up the top band taking out key resistance levels on the way! Another thing i should point out is the bollinger bands are beginning to squeeze on price action and the more we see this happen and the tighter they get the bigger explosive move, now the BB doesnt signal which way this move is headed but i would say we are looking at the upside. Now something that looks very positive on the MACD is if you look at the histogram we were in a steady decline going towards the midline but today we have rebounded and actually have created a bigger green bar then yesterday, this could be the start of another bullish rally on the MACD it shows bull momentum is increasing and if we see this continue to play out we are going to see some nice upside follow, aswell the MA's specifically the blue MA is starting to gain more separation on the orange MA, this is always a positive sign because the more we separate the less likely we are to see a near term bearish cross, even if we were to have a couple red days. Seeing the Blue MA head to the upside and the orange continue to be flat and move sideways shows that we for sure could be set on another bullish rally! Not financial advice just my opinion!
COINBASE:LTCUSDLong
by JacobR905
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