Quick TA on LTC USD
We observe an inverse H&S formation with a clear break above the neckline. Clearance of the downward channel is also demolished, looking for the next major overhead resistance. Good consolidation of flag formation at the $40 range indicative of price strength confirmation.
Next target should coincide with the 200MA (in red), at approx $50. Short term bullish but the true test for reversal will be decided here. MACD crossover spells positive news after multiple rejections.
We observe an inverse H&S formation with a clear break above the neckline. Clearance of the downward channel is also demolished, looking for the next major overhead resistance. Good consolidation of flag formation at the $40 range indicative of price strength confirmation.
Next target should coincide with the 200MA (in red), at approx $50. Short term bullish but the true test for reversal will be decided here. MACD crossover spells positive news after multiple rejections.
