Following an article I caught on the Berminal news app, I hopped onto the chart to see what they may have been talking about. The article states that mass adoption for Litecoin is around the corner that will act as the catalyst for it to moon. What does TA say?
Taking a look at the chart, I have to say I think I agree. A line of support dating back to 3/29 is currently being tested for the 6th time this year. We appear to closing in on the end of a wedge pattern telling me that we're merely a couple days away from finding out if a moonshot is in the works.
MACD and AO have ultimately been neutral, and volume has been relatively quite with spurts of action.
I believe all eyes will be on BTC to see if it breaks support or if bulls are able to rally. Once we have our answer there, LTC will mimic Bitcoin's price action.
Taking a look at the chart, I have to say I think I agree. A line of support dating back to 3/29 is currently being tested for the 6th time this year. We appear to closing in on the end of a wedge pattern telling me that we're merely a couple days away from finding out if a moonshot is in the works.
MACD and AO have ultimately been neutral, and volume has been relatively quite with spurts of action.
I believe all eyes will be on BTC to see if it breaks support or if bulls are able to rally. Once we have our answer there, LTC will mimic Bitcoin's price action.