LTCUSD (Litecoin) – Week 24 –Trading range
Charlie Lee, the inventor of Litecoin, has revealed two major changes coming soon to the 13th largest cryptocurrency. Lee explains why Litecoin's impending upgrade, which will increase the digital token's fungibility and privacy, is critical to sound money principles in an interview with crypto researcher Scott Melker.
Technically, this week we can see a move to reach the resistance area of $220 per LTC. If it reaches that area, we must carefully study the price action and decide if it will reverse and continue the downtrend or consolidate and go up. Keep in mind that the downtrend on the big timeframe is not over and a spike to the resistance area has a high probability of being a corrective one followed by a reversal. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, this week we can see a move to reach the resistance area of $220 per LTC. If it reaches that area, we must carefully study the price action and decide if it will reverse and continue the downtrend or consolidate and go up. Keep in mind that the downtrend on the big timeframe is not over and a spike to the resistance area has a high probability of being a corrective one followed by a reversal. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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