Litecoin to $10 - should September 27th close under $43

The 10-day chart above is reminiscent Bitcoin trying to hold the $6k back in 2018 until its inevitable plummet.

Since December 2017 Litecoin has been making lower highs on the above chart. It needs to smash through $75 and stay there for the 10-day chart to show a trend change. $75 is the key number right now to watch.

With Lower highs, the trend is down and showing no signs of reversal. Price action is currently supported on a trend line going back to April 2017. A failure of this trend line would be $43 by September 27th when a new 10-day candle is printed. The next support is around $10 by mid-November.

Why $10? It is the same trend line that stopped the fall back in March during the price collapse.

Good luck!

Commentaire:

Litecoin begins to print a new 10-day candle on / above the 50-week moving average (blue line). A close here at current price action ($58) by November 6th - that would be excellent news for the bulls.

Commentaire:

Price action trying to break market structure (downtrend) and replace with uptrend - must wait for higher low before this idea can be made void.

Trade fermée manuellement:

Fantastic - the cycle of lower lows on the 10-day chart is no longer a concern.

Currently price action is at resistance.