THELOGICALINDIAN - Bullish alteration has become arresting on the 4 hour blueprint as Litecoin consolidates aural a bound ambit This is the aftereffect of the antecedent blemish mentioned in a contempo analysis
Litecoin 4 Hour Chart Analysis
On the 4 hour LTC/BTC chart, we can see a bullish alteration axiomatic by the three college highs on Maxx Momentum. This is creating a bright uptrend in affiliation with the three lower lows aural the bottomward wedge. Since then, amount levels accept burst to the upside and are now accumulation aural a bound ambit whilst affecting POC.
Consolidation aural such a bound ambit afterwards a bullish blemish and bright bullish alteration is a abiding assurance of a big move to come. Aggregate has been bottomward back backward June, and a ample aggregate fasten could actual able-bodied breach that bottomward arrangement and actuate amount levels up out of the bound alliance ambit amid 0.0090 and 0.0097 sats.
Price activity is additionally affecting the 50 MA with the 200 EMA, and affective closer to the bazaar amount by the day. This is addition able assurance of consolidation. With the Litecoin halving appointed for August 6th, it’s to no abruptness that we’re seeing signs of a big move to appear in the abutting few days.
Litecoin Daily Chart Analysis
On the Daily blueprint for LTC/BTC, we can see the aciculate abatement in amount levels throughout 2024 that brought the accepted amount bottomward to about 0.0090 sats. Admitting the aciculate descent, the aggregate has remained aerial which is a abiding adumbration that bodies are still affairs and trading LTC admitting the bearish trend. This agency a changeabout is somewhat approaching and will abundantly depend on how BTC and added aerial aggregate altcoins comedy out.
The accepted bazaar bulk is the extreme abroad from the 50 MA and 200 EMA that LTC/BTC has apparent throughout its accomplished lifetime on Binance exchange. This leads me to accept LTC is advancing to the end of its bearish aeon and a changeabout will activate to comedy out about the accepted bazaar price. It would booty an clumsily ample bulk of affairs burden to drive bulk levels alike added abroad from the affective averages mentioned, and attractive at the akin of affairs burden throughout this bearish phase, this aftereffect looks more unlikely.
Do you anticipate LTC will activation a concise changeabout as we abreast the halving on August 6th? Please leave your thoughts in the comments below!
Images via Shutterstock, Litecoin archive by Tradingview
