LTCUSD 1D: Being rejected at previous line of support....
As above.
Rejection and decent resistance at around 42 occurring... at least may be third time/triple top in play.
Probably going to be very sketchy trading and favoring shorting this coin in the near term. May bleed slowly over next 4-8 weeks until it becomes very oversold. Volume needs to come back with a vengeance when the price bottoms for any meaningful pump but would not be surprised if that is a disappointment given LTC performance lately .
38-35ish looking like next stop, then if we breach that.... mid to low 20s again. Overall, LTC very stuck below the middle 1W BB again as in previous bear times.
For long term... probably need a sustained breach above $50 again for any hope of a significant bull run to occur.
BTCUSD going to go down soon in next week or two as well and will drag LTC with it.
Good luck traders.
Rejection and decent resistance at around 42 occurring... at least may be third time/triple top in play.
Probably going to be very sketchy trading and favoring shorting this coin in the near term. May bleed slowly over next 4-8 weeks until it becomes very oversold. Volume needs to come back with a vengeance when the price bottoms for any meaningful pump but would not be surprised if that is a disappointment given LTC performance lately .
38-35ish looking like next stop, then if we breach that.... mid to low 20s again. Overall, LTC very stuck below the middle 1W BB again as in previous bear times.
For long term... probably need a sustained breach above $50 again for any hope of a significant bull run to occur.
BTCUSD going to go down soon in next week or two as well and will drag LTC with it.
Good luck traders.
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