LTC as been in a large consolidation wave for a few weeks now, following SegWit activation and a 'sell the news'-invoked correction. LTC has performed differently than other altcoins recently, with its notable price stability - although the price has fluctuated in a wide price channel, allowing for many profit opportunities. With the wave coming to another peak, we are set up to retest the strong resistance at $30, followed by the trendline resistance that should be around $31.50-32.00. If we can get a clear breakout (a full candlebody above trendline), then we can resume the climb to pre-SegWit highs, and the yet unreached ATH (~$48).
Ever skeptical, beware of a correction that penetrates the support found at $24 - as this would disrupt this fragile chart. If this were to happen, a retest of the $20 range would occur, and perhaps sub-$20 levels. However, my overall sentiment is bullish for LTC.
Ever skeptical, beware of a correction that penetrates the support found at $24 - as this would disrupt this fragile chart. If this were to happen, a retest of the $20 range would occur, and perhaps sub-$20 levels. However, my overall sentiment is bullish for LTC.