Taking a look at our daily we can price respecting structure beautifully. Although most of the crypto market has decided to take off in a boom. Litecoin has been one of the more stable currency only moving about 0.5-5% and returning to it's original price. Looking at our we can momentum has definitely shifted towards the upside.
Switching over to our trend timeframe we can see price has been consolidating between $112-$120. A break and close above either of these levels determines where LTC heads to next.
Finally looking at our trigger time frame we can there is a minor resistance at $120, and a minor support @ $118. A break and close above either of this level and we get an idea of where LTC is going.
Litecoin is the poor mans bitcoin . As bitcoin represent the gold of crypto, litecoin represents the silver of crypto. Not a financial advisor, this is my personal opinion. However i believe bitcoin will gain a lot of momentum and until we see resistance litecoin will stay stable or consolidate until then. Once bitcoin has found resistance i believe traders will jump onto other altcoins push ETH and LTC up.
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