Hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Litecoin.
In the daily chart (1D), LTC/USD is consolidating at the 30-day Moving Average (MA 30), the 90-day Moving average (MA 90), and the 360-day Moving average (MA 360):
In my view, these three key MAs will provide enough support to the price of Litecoin and it will rebound.
Moreover, if we look a the 4-hour chart (4H) of LTC/USD we can see that something similar to Bullish Flag (common trend continuation pattern) has formed:
In my view, if the price breaks through the upper line of the flag then this will make the beginning of the uptrend.
To be continued ...
As of the time of writing, one LTC costs $192,50 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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