#Litecoin
The blue area has to hold. If we get a closure below this area, we will leave our long at break even and wait for next bullish sign on Litecoin.
The blue area has to hold. If we get a closure below this area, we will leave our long at break even and wait for next bullish sign on Litecoin.
All bullish signs on #Litecoin are gone.
It looks like bullish fundamentals caused by the upcoming halving are not strong enough to make it outperform Bitcoin.
The blue moving average you see on the chart is current resistance that pushes price lower and lower.
Our eyes are still looking for buy entries because 0.01 is multi-year support for LTCBTC pair and you need to give it special attention.
So far, we have neither weekly nor monthly closure below, so it is still a potential area of support.
What we need is a confirmation on the daily time frame. The first would be close above the blue moving average. Then we will start closely monitoring price action for entry confirmation (bullish move from certain pattern/consolidation).
It looks like bullish fundamentals caused by the upcoming halving are not strong enough to make it outperform Bitcoin.
The blue moving average you see on the chart is current resistance that pushes price lower and lower.
Our eyes are still looking for buy entries because 0.01 is multi-year support for LTCBTC pair and you need to give it special attention.
So far, we have neither weekly nor monthly closure below, so it is still a potential area of support.
What we need is a confirmation on the daily time frame. The first would be close above the blue moving average. Then we will start closely monitoring price action for entry confirmation (bullish move from certain pattern/consolidation).