Hello Traders!
The existing graph above is on the hourly.
As you have noticed, the graphs for basically every stable coin and top alt coins all look the same. Right now, a lot of coins are reliant on Bitcoin.
We have been in a bull run for sometimes and its healthy for this dip to happen. keep in mind that we usually have 3-4 dips that range from %25-35% which us currently happening right now.
As you can see above, the path is mostly in the red with support lines jutting out in the green, hence the little dump we are in. The dotted lines indicate the percentage of loss as well. This seems like its entering in a bearish engulfing pattern but I believe with all of the support and recent buying while everything has been down, we will see Litecoin and all of the other stable coins dip down some more and rise up above their support and trend lines.
If Litecoin dips below 140 or 130, we will enter into a little bear market. If it remains over its trend/support line of 210-220, we will be looking strong!
Happy trading!
The existing graph above is on the hourly.
As you have noticed, the graphs for basically every stable coin and top alt coins all look the same. Right now, a lot of coins are reliant on Bitcoin.
We have been in a bull run for sometimes and its healthy for this dip to happen. keep in mind that we usually have 3-4 dips that range from %25-35% which us currently happening right now.
As you can see above, the path is mostly in the red with support lines jutting out in the green, hence the little dump we are in. The dotted lines indicate the percentage of loss as well. This seems like its entering in a bearish engulfing pattern but I believe with all of the support and recent buying while everything has been down, we will see Litecoin and all of the other stable coins dip down some more and rise up above their support and trend lines.
If Litecoin dips below 140 or 130, we will enter into a little bear market. If it remains over its trend/support line of 210-220, we will be looking strong!
Happy trading!