Similar to Bitcoin, Litecoin did not successful hit its price objective, which was the top of the channel provided in the last analysis. Litecoin did, however, experience a break out from the symmetrical triangle, but it was unsuccessful at pushing through the historical resistance between 142-150 and it experienced extreme rejections from that region.
It can be seen that there is a large diverging channel occurring in the RSI in purple and a small diverging channel in light blue. The channels are coordinated by color, where the larger channel is purple and the smaller one is light blue. I suspect that litecoin will most likely fall out of the purple channel and it will indicate a sign of weakness. It may be in the light blue channel for a while despite the fact that it has fallen out of the corresponding channel in the RSI.
I suspect that litecoin will fall greatly and quickly once it approaches the support of the channel given that there are many indications of weakness, it is possible that this will be the signal that this run is over for the entire crypto community.
Previous Analysis:
It can be seen that there is a large diverging channel occurring in the RSI in purple and a small diverging channel in light blue. The channels are coordinated by color, where the larger channel is purple and the smaller one is light blue. I suspect that litecoin will most likely fall out of the purple channel and it will indicate a sign of weakness. It may be in the light blue channel for a while despite the fact that it has fallen out of the corresponding channel in the RSI.
I suspect that litecoin will fall greatly and quickly once it approaches the support of the channel given that there are many indications of weakness, it is possible that this will be the signal that this run is over for the entire crypto community.
Previous Analysis:
