As of yet, there is no identifiable pattern, however, there appears to be a trend change.
The Chart:
In orange there was a descending trendline on the RSI that litecoin recently broke, this trendline has occurred since litecoin topped at ~140. This trendline has multiple touches, so it seems as if it is a very valid trendline, as it was broke, the trendline was retested. In addition, the purple trendline was broken, which was my most recent trendline and it denoted the speed at which price was decreasing.
In red there was a descending triangle which broke to the downside. It did hit its price objective, however, it did not drop completely down to horizontal support. The bottom of the descending triangle was prior resistance, however, it was easily broken, it is important to look out for a possible strong break to the upside from this resistance level and be on the look out for the formation of a pattern.
Previous Analysis:
The Chart:
In orange there was a descending trendline on the RSI that litecoin recently broke, this trendline has occurred since litecoin topped at ~140. This trendline has multiple touches, so it seems as if it is a very valid trendline, as it was broke, the trendline was retested. In addition, the purple trendline was broken, which was my most recent trendline and it denoted the speed at which price was decreasing.
In red there was a descending triangle which broke to the downside. It did hit its price objective, however, it did not drop completely down to horizontal support. The bottom of the descending triangle was prior resistance, however, it was easily broken, it is important to look out for a possible strong break to the upside from this resistance level and be on the look out for the formation of a pattern.
Previous Analysis:
