Litecoin is UP today, could it be in for a new liftoff?
Here is the daily LTC/USD chart.
The Superguppy show a tight grey group of moving averages, but widening down.Also the blue Trend Break Arrow Alert is telling the bears may not yet be ready, but need to be confirmed.
I have lined up a couple scenarios here, within a support/resistance based triangle.
A break in the support line can send LTC below $100 again.
Litecoin is traded below the 1d Ichimoku cloud.
Short term looks better. We are trading up into the Ichimoku, and the traders group of Superguppy are tightening up in a grey area. The long term red investors group are not yet convinced about the price going up.
This short term bullishness could result in the green D in the triangle being made.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
If you'd like my technical analysis on another coin, please ask in the comments.
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