LTC has been consistently knocked off its throne by the downtrend line, which has acted as a very crucial resistance since 360$. Never the less, we have seen signs of hope since the later stages of march (a month which saw LTC take a whooping from the shorters) as we found support on the rising from 54$.
Will this being used as support be enough to drive price past the 230$ mark which we saw huge dumping take place ?
The answer is probably no. Why? Because this has been used as support once, whereas the blue where i believe the real support 'may' lie has been used as support previously from as low as the 10$ mark and this line has been used as support at least a dozen times before.
Also, do you notice the larger ? Traditionally before a break out we would expect one more down turn. This down turn will lead us to around the 90 price point. Here we also meet the beautiful i was talking about just above.
We may see some struggle at around the 120$ price point as previously that was used as support. Moreover, to end, and both showing negative signs. This can be seen where the blue line on was used as resistance on multiple occasions previously. Thus, i have left room for a small rise to 146$. is also suggesting the same thing, and i see that red line being used as resistance.
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