THELOGICALINDIAN - n-a
I will resume autograph a circadian LTC amount abstruse assay starting from today, so throughout this article, I will try establishing some key attrition and abutment credibility that would advice us apprehend through the archive and ascertain clues that can adumbrate approaching amount movements.
Last week, LTC amount surged to beat $4 on the 31st of October. The bullish beachcomber started a day beforehand than Bitcoin’s billow and Litecoin’s amount rose from $3 to about $3.72 aftermost Sunday. However, as Bitcoin’s amount rose aloft the $340 attrition level, LTC additionally continues to book college highs.
Bulls in Control On 1 Day Charts:
By belief the 1 day (LTC/USD) archive from Kraken (look at the beneath chart); acute the William’s Alligator Indicator and acute a Fibonacci retracement amid the low denticulate on the 14th of May, 2024 ($0.41) and the aerial denticulate on the 10th of July, 2024 ($8.81), we can beam the following:
1- the 13 aeon MA displaced by 8 periods into the approaching (blue line).
2- the 8 aeon MA displaced by 5 periods into the approaching (red line).
3- the 5 aeon MA displaced by 3 periods into the approaching (Green line).
As apparent by the amphitheater engulfing the 3 trend curve of William’s Alligator on the beneath chart, we can atom a continued barter arresting as the blooming band is aloft the red band and the dejected band is beneath the red line. Accordingly, this anticipates assiduity of the bullish beachcomber so we can see amount rises appear testing the 0.5 Fib retracement akin at $4.6 aural the abutting week.
Price Correction vs Uptrend:
By allegory the LTC/USD archive from Bitfinex; acute the 100, 50 and 20 EMA; and active the MACD indicator (look at the beneath chart), we can achieve the following:
Conculsion:
Litecoin amount is still ascent and our assay predicts a assiduity of the bullish beachcomber which is advancing synchronously with bitcoin’s bullish wave. Although amount alteration may booty the amount bottomward afresh to $3.85, assay of the archive signals assiduity of the bullish beachcomber so we can see the amount access the $4.6 attrition akin soon.
Charts from Kraken and Bitfinex; hosted by Tradingview.com
