The correction today was required to continue the bullish trend that litecoin has been following approaching the halving. Irrespective of the news, it's simply following symmetrical cup where it will potentially hit $180 -/+ and fall back down to the $120 range. However in the short term, we see that LTC posted a higher low on the STOCH (red circle) which required to be brought lower than the second yellow circle whilst keeping the lows higher than the lows previously.
In short this is showing bullish continuation (from the hidden stoch divergence) signal after the dip.
The RSI has also pulled back in this instance and the price has bounced off the 50 EMA. This was small and required correction. There is resistance on the way up is at the $150 range before (may result in another small correction) attempting to go for $180.
In short this is showing bullish continuation (from the hidden stoch divergence) signal after the dip.
The RSI has also pulled back in this instance and the price has bounced off the 50 EMA. This was small and required correction. There is resistance on the way up is at the $150 range before (may result in another small correction) attempting to go for $180.