LTCUSD (Litecoin) – Week 25 – Can it break the trendline?
For the fourth time this year, the federal auctioning site General Services Administration Auctions will auction off another lot of bitcoin and, for the first time, litecoin. In other news, after inking a sponsorship agreement with crypto investment app Voyager, Nascar driver Landon Cassill will be paid entirely in cryptocurrency, a first for the renowned auto racing corporation. His payout will be mainly comprised of Bitcoin and Litecoin.
Technically, if we see Litecoin break the red trendline marked on the chart and consolidating above we can infer that the price will reach the resistance area or the previous top in the structure at $208 per LTC. A continuation to the downside is always in play because of the big down moves that happened in May.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, if we see Litecoin break the red trendline marked on the chart and consolidating above we can infer that the price will reach the resistance area or the previous top in the structure at $208 per LTC. A continuation to the downside is always in play because of the big down moves that happened in May.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
