If some ALTS approaching the 2018 low point then Litecoin' is almost there. Currently, the price is on the very important support area - $50 which starts to work as a support and the 2018 low which was made at 14. August. If we don't find that power to hold the price above the $50 then bearish confirmation would be a four-hour candle close below the 2018 low (red box).
Break below the 2018 low could be mean bad news for LTC' because there are exactly zero recent supports until to the next round number area $40. There are also two different trendlines pulled from different wicks and lows (let's call those trendlines the minor trendlines) and they make a cross on the $40 level + there is also some Fibonacci extension areas! So, this means the next support area and a pretty significant is around $40.
To trade between the $50 and $40 level is pointless and very risky! Because technically there is almost nothing remarkable. Wait for the $40 or if the price doesn't reach into this are then wait for our technical analysis, we try to keep You posted!
Hopefully, those level and this analysis helped You out a little bit to confirm Your own analysis! Please, don't forget to hit the LIKE button to support us! Best regards!
Kommentera
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We are heading down! It made a new 2018 low with a close below the previous low! The road to the $40 has begun!