Hi friends! Here is a quick look at the hourly action on Litecoin! If you follow me on Twitter (@MagicPoopCannon) you know that I dropped a tip that the bulls were stepping into the market today. Since that post on Litecoin, LTC has continued to rally into overhead resistance, at $26.33. Momentum continues to expand upwards on the MACD, but volume is starting to die off. From here, we can see that if LTC gets above the bottom red trendline resistance, the next resistance level will be the pink falling trendline, somewhere near $28. A break above the pink trendline would show undeniable bull presence, and price would then be likely to test the $30 level.
As I said, that all depends on whether or not LTC can rally above $26.33 here. If the $26.33-$26.40 area acts as resistance, prepare for all new lows in LTC.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
As I said, that all depends on whether or not LTC can rally above $26.33 here. If the $26.33-$26.40 area acts as resistance, prepare for all new lows in LTC.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-