This is a make or break moment for Litecoin. We've seen hangups like this with Litecoin before and I see this as
a key period to incrementally accumulate over time.
Litecoin is still holding its core support trend while coming to a direct head with it's previous resistance.
We know that core psychological support is around ~$50. Usually between support at $35 and resistance at $75.
Current market support is ~$150 with resistance pushing back down around ~$200.
The key test period will reveal itself near the end of the month. With July coming around the corner, it's possible
we could see a further decline if we're willing to allow ourselves to see and account for potential downside.
In order to feel confident in the upside, we'll need to see Litecoin hold it's current uptrend at the main trendline. It's hard
to say for sure what's going to happen next... especially when the market is trading sideways. A very frustrating period
for any trader.
This isn't necessarily the worst thing in the world. Why? Because it allows for accumulation at discounted prices.
With mimble wimble right around the corner, expected to be released near the end of year, I expect that's when
we may see a turn around.
Even if there is no potential short term benefit, I suspect we will see Litecoins value proposition
rise in the long term regardless. It's a strong network and continues to see a rise in traffic and overall activity.
It's widely supported and my favorite part is that it's completely ignored. I always find undervalued assets
to be safe a bet in the long term.
a key period to incrementally accumulate over time.
Litecoin is still holding its core support trend while coming to a direct head with it's previous resistance.
We know that core psychological support is around ~$50. Usually between support at $35 and resistance at $75.
Current market support is ~$150 with resistance pushing back down around ~$200.
The key test period will reveal itself near the end of the month. With July coming around the corner, it's possible
we could see a further decline if we're willing to allow ourselves to see and account for potential downside.
In order to feel confident in the upside, we'll need to see Litecoin hold it's current uptrend at the main trendline. It's hard
to say for sure what's going to happen next... especially when the market is trading sideways. A very frustrating period
for any trader.
This isn't necessarily the worst thing in the world. Why? Because it allows for accumulation at discounted prices.
With mimble wimble right around the corner, expected to be released near the end of year, I expect that's when
we may see a turn around.
Even if there is no potential short term benefit, I suspect we will see Litecoins value proposition
rise in the long term regardless. It's a strong network and continues to see a rise in traffic and overall activity.
It's widely supported and my favorite part is that it's completely ignored. I always find undervalued assets
to be safe a bet in the long term.
