LiteCoin(LTC): Breakout Or A Nice Bounce??
As LTC is trading inside the ascending channel, the price is moving slowly towards the lower line of this channel. From here we have two possible scenarios to play out:
Plan A: Upon reaching that trend line price will find a nice foundation and will have bounce to upper trend line!
Plan B: Price reaches the lower trend line and has a nice breakdown with a re-test, which should lower the price towards that support box area!
Plan A: Upon reaching that trend line price will find a nice foundation and will have bounce to upper trend line!
Plan B: Price reaches the lower trend line and has a nice breakdown with a re-test, which should lower the price towards that support box area!
Comment:
Coin has already started the movement to the upper zones, suggesting an early push towards the upper resistance zone.
In this case, we are waiting for upper resistance to be reached from where we are going to look for potential sell position!
Coin has already started the movement to the upper zones, suggesting an early push towards the upper resistance zone.
In this case, we are waiting for upper resistance to be reached from where we are going to look for potential sell position!
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The smaller timeframe is showing us great potential for some upward movement
While the price is slowly fading and falling to lower zone, it might see some nice movement to upper zones here (all depending on that lower trend)