Like many alt coins, LTC saw significant gains today but was unable to hold those gains on the 1D chart. Also like many alt coins, I see a descending triangle forming (black dotted line). Considering BTC appears to be falling and BTC has major influence on the crypto market, I think there is a good chance LTC will break down the support around the black dotted line. There looks to be strong support at $45, but if it bounces from that area we would still be in a bigger descending triangle.
I think now is a risky time to make a trade. However, if LTC falls and bounces off the $45 support, and if the market as a whole appears to find some support on a bounce at that time, I think it would be a beautiful opportunity to get some cheap coins.
I think now is a risky time to make a trade. However, if LTC falls and bounces off the $45 support, and if the market as a whole appears to find some support on a bounce at that time, I think it would be a beautiful opportunity to get some cheap coins.