Litecoin registered a strong drop in the short term but the sell-off seems over. It’s trading at 89.77 at the time of writing. The price action developed a potential flag pattern which could represent a bullish formation.
Ripple is down by 0.67% in the last 24 hours and by 0.76% in the last 7 days. Bitcoin’s strong growth should help the altcoin to grow as well.
LTC/USD Downside Stopped!
LTC/USD crashed after failing to take out the median line (ml). Now, it has found support on the 84.50 level and it seems determined to rebound.
The ascending pitchfork’s lower median line (lml) represents a dynamic support. As long as it stays above it, the altcoin could develop a new leg higher. Technically, the price action develops a down channel pattern which could announce an upside movement.
LTC/USD Outlook!
A valid breakout through the channel’s upside line brings new longs and activates a new swing higher.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin registered a strong drop in the short term but the sell-off seems over. It’s trading at 89.77 at the time of writing. The price action developed a potential flag pattern which could represent a bullish formation.
Ripple is down by 0.67% in the last 24 hours and by 0.76% in the last 7 days. Bitcoin’s strong growth should help the altcoin to grow as well.
LTC/USD Downside Stopped!
LTC/USD crashed after failing to take out the median line (ml). Now, it has found support on the 84.50 level and it seems determined to rebound.
The ascending pitchfork’s lower median line (lml) represents a dynamic support. As long as it stays above it, the altcoin could develop a new leg higher. Technically, the price action develops a down channel pattern which could announce an upside movement.
LTC/USD Outlook!
A valid breakout through the channel’s upside line brings new longs and activates a new swing higher.
The material has been provided by InstaForex Company – www.instaforex.com
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