Over the weekend, we still were not able to get past 172 which I believe is a huge point of resistance for litecoin. The closest we got was around $169.20. I currently have that as our main short term resistance, but we will need to break one of our trend lines which is around $164-166.
I was happy to see us bounce off our support though at $141.20. I had this labeled as one of our supports in my day 8/9 TA and I'm going to keep it as our main support for now.
I believe we will be moving sideways for the time being. We could be in the process of forming a new lower high's pattern short term (First high being 169.20, next one 162.30). To confirm this, we will need to dip a little bit lower, in which it could reach somewhere in the mid to upper 140's.
I will keep and eye on LTC / BTC throughout the day and update this TA if needed. Follow me if you would like to stay up to date with my daily TA's of LTC.
I was happy to see us bounce off our support though at $141.20. I had this labeled as one of our supports in my day 8/9 TA and I'm going to keep it as our main support for now.
I believe we will be moving sideways for the time being. We could be in the process of forming a new lower high's pattern short term (First high being 169.20, next one 162.30). To confirm this, we will need to dip a little bit lower, in which it could reach somewhere in the mid to upper 140's.
I will keep and eye on LTC / BTC throughout the day and update this TA if needed. Follow me if you would like to stay up to date with my daily TA's of LTC.
