Litecoin technical analysis for December 16 2017.
The bullish flag has been forming since a few days now after a very strong uptrend on litecoin.
Sellers have tried to make lower lows but we ve seen a quick recovery to higher levels. Since Litecoin is trading in a so called BULLISH flag formation and is currently bumped to the upper trendline we can expect it to...
LTC is ranked 6th in the ranking of all cryptocurrencies in terms of capitalization. In the last few days we see it growth, while in the last 24 hours its rate has fallen by almost 2%.
From a technical point of view, we are still in the growth channel. After an unsuccessful attempt to break from the bottom, the price turned around and given the opportunity to...
Litecoin over the last 24 hours dropped about 0.5%. It still moves in the growth channel shown in the chart below. We see that support of 55.5 USD heavily defends against falls.
This level also coincides with the lower channel limitation. However, getting smaller peaks and smaller growth responses on this support suggest that it may be broken on the bottom. If...
Lots of the alt coins are showing Head and Shoulder patterns. We are in for a rough ride if any of this happens.
I would expect a bounce off the first support zone and then the market will decide what happens next.
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Litecoin resumes it’s upward move and aiming for higher grounds but expecting some resistance at $44
Current trend: Higher High’s and Higher Low’s
Support Zone : $35
Major resistance: $55
Based on recent trends within the litecoin charts and more LTC news likely to be made public I can predict LTC will stuggle in the coming days, however, will see a lot of monies being exchanged for LTC to be used as a "safe haven" coming up to August 1st. Depending on what the "secret" MIT project is about LTC will either rise or people will take advantage of the...