Litecoin is lagging behind its big brother BTC and has still to reach its old ATH at $366.
I am very confident LTC will eventually reach and exceed its current ATH. It's just a matter of time. If you check the BTC pair you will see LTC is about to break out of a massive descending wedge which will easily double the LTC price once that happens.
On the USD pair here, you can see that we are at support so a good opportunity to reload into LTC before a major move up towards $240 and $300 which are our next immediate targets. Then ATH will be in range.
The indicators are turning bullish and we just need a bit more volume to start the momentum up. Once that happens, LTC should do a quick run to $240.
We also have a bullish divergence on RSI, which will not take long to confirm as long as BTC and the overall market remain bullish.
Hence, my bias is very bullish on LTC and a great long term play. LTC has been a bit slow to catch-up on the overall market, so it will eventually pump hard. Good to use these moments to reload.
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I am very confident LTC will eventually reach and exceed its current ATH. It's just a matter of time. If you check the BTC pair you will see LTC is about to break out of a massive descending wedge which will easily double the LTC price once that happens.
On the USD pair here, you can see that we are at support so a good opportunity to reload into LTC before a major move up towards $240 and $300 which are our next immediate targets. Then ATH will be in range.
The indicators are turning bullish and we just need a bit more volume to start the momentum up. Once that happens, LTC should do a quick run to $240.
We also have a bullish divergence on RSI, which will not take long to confirm as long as BTC and the overall market remain bullish.
Hence, my bias is very bullish on LTC and a great long term play. LTC has been a bit slow to catch-up on the overall market, so it will eventually pump hard. Good to use these moments to reload.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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