Litecoin and most of the big cryptos continue to struggle. At this time of writing/recording, Litecoin is down 10% for Fridays trading session. Here is the daily chart:
Comment: We formed a rather hopeful candlestick for thursday, but that did not last long, we have already taken out yesterdays lows. Now, where is the next support area you might wonder? Well, we are actually at one right now, that is around 275 so we will see if that will hold. If not, we might fall down to 225 where we have the bollinger band median.
Now, lets end with a look at the 4 hour chart:
Comment: Here we can see that we are trading within a specific trading channel and we must break this downward trend in order to go higher again. Look out for a 4 hour close above the higher descending trendline.
But if you believe in Litecoin for the long term, this could be a great time to accumulate some more Litecoin for a better price.
Happy investing!