LTC/ETH bottom is in
Hello,
I have been monitoring LTC for a considerable amount of time and have been awaiting this bottom to play out. The time is finally here where we are seeing signs of strength in the LTC reversal.
After finding new lows we saw a strong breakout of the yearly down trending channel. Followed by making further new lows to retest the breakout. From here looks like a final accumulation in the blue zone with a liquidity grab/ deviation just under the blue accumulation zone.
We have bullish divergence on the RSI confirmed and a MACD that has momentum favouring the bulls.
We can also consider other factors in such that memes, AI, RWAs and a host of other coins have had large rallies over the last year and litecoin has spent some time sitting in the shadow with many saying it’s over etc etc. Well now is the time where people will look for reliable long standing trust worthy coins. What better narrative to have for people to place their gains from all these other coins into somewhere they can see with a large upside potential and that may have bottomed out and that the can trust to not be a rug pull.
Both LTC to BTC and USD charts also show a favourable chart for the bulls. If you would like to see my view on those let me know.
Invalidation should this chart make further lows.
Good luck and remember to look where others are not. Enjoy
I have been monitoring LTC for a considerable amount of time and have been awaiting this bottom to play out. The time is finally here where we are seeing signs of strength in the LTC reversal.
After finding new lows we saw a strong breakout of the yearly down trending channel. Followed by making further new lows to retest the breakout. From here looks like a final accumulation in the blue zone with a liquidity grab/ deviation just under the blue accumulation zone.
We have bullish divergence on the RSI confirmed and a MACD that has momentum favouring the bulls.
We can also consider other factors in such that memes, AI, RWAs and a host of other coins have had large rallies over the last year and litecoin has spent some time sitting in the shadow with many saying it’s over etc etc. Well now is the time where people will look for reliable long standing trust worthy coins. What better narrative to have for people to place their gains from all these other coins into somewhere they can see with a large upside potential and that may have bottomed out and that the can trust to not be a rug pull.
Both LTC to BTC and USD charts also show a favourable chart for the bulls. If you would like to see my view on those let me know.
Invalidation should this chart make further lows.
Good luck and remember to look where others are not. Enjoy
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.