A logarithmic chart on the Daily tf is presented in this Litecoin analysis. Over 11 months of price action is shown which includes price at a high of ~$370.78 (December 19, 2017) to current date.
The simplest way to describe trend since December 19, 2017 is unquestionably a downtrend in Litecoin as it is for most of the cryptocurrency space.
A bearish channel is used in this Litecoin analysis to highlight the current downtrend. $23.52 and $16.16 indicate the price levels anticipated for consolidation in price and/or bullish momentum to likely resume.
Price breaking below the $16.16 implies more selling.
The simplest way to describe trend since December 19, 2017 is unquestionably a downtrend in Litecoin as it is for most of the cryptocurrency space.
A bearish channel is used in this Litecoin analysis to highlight the current downtrend. $23.52 and $16.16 indicate the price levels anticipated for consolidation in price and/or bullish momentum to likely resume.
Price breaking below the $16.16 implies more selling.
