Across multiple cycles LTC has always been the first mover rather it be for the upturn, downturn or even pattern development.
And now we see that ETH is in a falling wedge but is yet to test the 0.786 fib retrace; meanwhile LTC is very very close to it's 786 retrace and is now closing in on it's most important zone of support.
If the trend of LTC leading ETH continues we should be seeing ETH close in on it's equivalent levels very soon.
A quite likely scenario is that we will see LTC breakout first because it's much deeper into it's pattern development then we will see ETH follow behind it.
It Will be like a reset of the year all over again accept this time starting from a higher low.
For those interested in seeing the comparison between ETH and LTC i have put the LTC and ETH chart in the indicator window. LTC represented by the blue line and ETH by the gray line.
I decided to add BTC in the yellow just because that coin is also important
and an interesting thing i see is that LTC seems to follow BTC more closely than ETH it even sometimes leads BTC.
I also marked the points of interest where LTC can be seen leading the pack on bull cycles and bear cycles in relation to ETH represented by the blue and red boxes.
And now we see that ETH is in a falling wedge but is yet to test the 0.786 fib retrace; meanwhile LTC is very very close to it's 786 retrace and is now closing in on it's most important zone of support.
If the trend of LTC leading ETH continues we should be seeing ETH close in on it's equivalent levels very soon.
A quite likely scenario is that we will see LTC breakout first because it's much deeper into it's pattern development then we will see ETH follow behind it.
It Will be like a reset of the year all over again accept this time starting from a higher low.
For those interested in seeing the comparison between ETH and LTC i have put the LTC and ETH chart in the indicator window. LTC represented by the blue line and ETH by the gray line.
I decided to add BTC in the yellow just because that coin is also important
and an interesting thing i see is that LTC seems to follow BTC more closely than ETH it even sometimes leads BTC.
I also marked the points of interest where LTC can be seen leading the pack on bull cycles and bear cycles in relation to ETH represented by the blue and red boxes.
