LTCETH - Weekly - about to breakout?

2020年10月24日

I am not a financial advisor.

Actually I hold more ETH than LTC (in USD & BTC terms).

Fundamentally most DEFI and NFTs projects being built on ETH made my choice easier.
ETH 2.0 coming soon I would say all eyes are on ETH...

But again when all eyes are on ETH => the focus should be somewhere else...
Paypal news and ADA connection might bring some life to the LTC project.

Technically, until now, huge downtrend (since may 2019)...
...and right now price is touching Resistance (RSI and StochRSI weekly looks interesting at resistance).
Will these news be enough for LTC to break this downtrend???

Not saying that LTC will revert 100% the trend to previous highs but it might top out at certain horizontal support/resistance levels.
See chart for possible risk analysis at highlighted support/resistance levels.
Possible 1, 3, 7 and 16 risk/reward - surely other charts might have better Risk/Reward.
Please drop a line in the comments if you are aware of better Risk/Reward charts playing out at the moment.
It might be interesting doing similar exercise using Fib retracements.

2020年10月25日

註釋

LTCETH is reaching resistance as predicted.

Unfortunately I doubt that we will see a breakout on this pair just as we did on LTCBTC. Looking at the indicators it is leading me to change my mind...but awaiting for market developments!

2020年10月28日

註釋

Interesting...