Hey Guys,
Back with another chart --- this time tracking LTC price movement using technical analysis. This is for educational purposes and not to be taken as investment advice. For this one, we are using 1D candlesticks on the main chart. This one is an important one -- as we can see, LTC has formed an ascending channel formation in which it made higher highs price wise and higher lows.
This is very good, however we're confronted with a potential breakout, right? Perhaps NOT. There's a possibility we are seeing a hidden divergence. As shown on the MACD and chart below:
Now, let's look at our EMA's (which I have not optimized fully :/ sorry..). Historically, we can see that the EMA's are great indicators for determining trend starts and trend ends. On our 6H chart we can see the price dip above the moving average. Shortly then follows a drop. It's hard to say but I have reason to believe that LTC is slightly undervalued and the more days we wait (and accumulate) there will be a good increase.
Back with another chart --- this time tracking LTC price movement using technical analysis. This is for educational purposes and not to be taken as investment advice. For this one, we are using 1D candlesticks on the main chart. This one is an important one -- as we can see, LTC has formed an ascending channel formation in which it made higher highs price wise and higher lows.
This is very good, however we're confronted with a potential breakout, right? Perhaps NOT. There's a possibility we are seeing a hidden divergence. As shown on the MACD and chart below:
Now, let's look at our EMA's (which I have not optimized fully :/ sorry..). Historically, we can see that the EMA's are great indicators for determining trend starts and trend ends. On our 6H chart we can see the price dip above the moving average. Shortly then follows a drop. It's hard to say but I have reason to believe that LTC is slightly undervalued and the more days we wait (and accumulate) there will be a good increase.
Comment:
**On the last image, EMA entry does not mean buy here. It's indicating that the price has entered a newer high.
Comment:
UPDATE** Price is climbing up but it's to soon to say that the target will be reached. Keep posted.
Trade closed: target reached