As I mentioned during my previous analysis, I am not a superbull or a superbear, I am a realist. Admittedly, I have always liked litecoin and have been a long time HODLer. Previous comments have mentioned Litecoin's undervalued nature. I am inclined to agree Litecoin has quite a bit of room upwards. As you can see, we are in a downward sloping pennant. At times a downward sloping pennant can be bearish, however, overall market sentiment is still bullish. Also hidden bullish divergence in the RSI. I suspect LTC will break upwards when considering overall market sentiment. The Market has not lost confidence in the asset class, extreme inflation rates, and wavering confidence in fiat currency will likely push this higher. In the end, be sure to focus on the mid-term to long-term, it's nearly impossible to interpret short term movements, especially with big players (whales) like those on f2pool, etc, etc. Make no mistake, all markets are manipulated. Be especially wary of those that are perma bulls or perma bears, they don't look at the market objectively.
Please note: I am not a financial consultant, this is not financial advice. Please make your own considerations before investing money and be especially wary when investing more than you can afford to lose.
Cheers All.
Please note: I am not a financial consultant, this is not financial advice. Please make your own considerations before investing money and be especially wary when investing more than you can afford to lose.
Cheers All.