Litecoin (LTC)

Litecoin been moving in a somewhat sideways channel, a big one, for a while. The middle line of this channel acted like a magnet and pulled the price toward the center each time it reached either side. As can be seen, a harmonic pattern ended and the price slowly went up to reach the first target which is the middle V section of this harmonic pattern. Now, we have to wait and see if price can reach above this channel's middle line and rest or make support there. Only then it is possible to reach the upper line of the channel. Let's see what happens.

評論:

Here is the daily chart that shows the price is trying to break a triangular consolidation zone upward and reach the channel's middle line.

評論:

So, LTC couldn't breach the middle line and pulled back on the triangle pattern. It seems another upward wave is about to start. Let's see if this wave can break the channel's middle line or not.

評論:

So, LTC is one of those coins which hasn't risen and is lagged behind the rise of the market. LTC first has to break the channel's middle line. Let's see when LTC breaks this line.