Analyze graphs: Litecoin fell to the bottom. It is time to buy?
Source:
The Price of Litecoin is still ranges in channel width of 20 dollars, sometimes cryptocurrency is testing the resistance level in the area of $ 70. Although the coin has a strong fundamental background for growth, bullrun will not start without confident of overcoming several important lines in the graphs.
theLatest news
«Kill» your cryptoperthite easy enough — just rely on the opinion of each «expert», who shares the most provocative forecasts on Twitter.
Analyst Tushar Jain believes that is completely outdated and will soon be absolutely worthless cryptocurrency. However, the coin is now confidently entrenched above $ 55 and does not show any signs of imminent fall. Like and comment to Arthur Hayes, who previously Ethereum «sitcommom» such statements often appear just prior to the global bullrun.
Besides the Litecoin is still considered «CryptoStream» — recently, the Bitcoin number SegWit transactions. In addition, the cryptocurrency, you can conveniently forward even with the help of a Telegram.
theTechnical analysis
The Bearish trend has erased about 70 percent of the profits that investors in Litecoin have received in the past year. However, at 1-weekly chart of the cryptocurrency found a good level of support in the area of $ 50. Soon a new wave of draining does not happen, now the main resistance level for coins is line $ 70.
image Source — NewsBTC
If the bulls did manage to break above this level, the following objectives for taking profits can be levels 90 and $ 110.
image Source — NewsBTC
Scale 1-day chart of LTC entered the stage of accumulation. The asset is in a horizontal canal, which stretches from 50 to 70 dollars. If the accumulation will last long enough, the buyers will have the opportunity to start a new uptrend.
Chart Analysis, Litecoin has prepared . Even more promising coins can be found in our .
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