I posted before this about "a week or two in advance for Litecoin" and I am just following up here quickly (I still don't know how to add this to my previous post) with some recent developments and predictions. So we can see that my previous prediction about testing the $31 resistance was correct as we can see it tested it and is dipping a little. Here we can see a potential consolidation period as you can tell with all of the wicks and spinning tops, so we will be looking for bearish of bullish confirmation once this consolidation period ends and we can make our move from there. This move should go either the green route or yellow route depending on what sort of confirmation we see. This could provide another good entry point if we see bearish confirmation where it would likely drop to the $28.80 support level and then back up into next week where it was announced Bitstamp will launch LTC. Here we should ideally see a nice spike into $40+. We also got a nice little snippet of news today that the creator of LTC, Charlie Lee has left Coinbase in order to focus on Litecoin full time! MOON!
*Check my previous post in order to gain a little bit more context of what is going on here :)
*Check my previous post in order to gain a little bit more context of what is going on here :)
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At the time of this comment we can see the post-consolidation candle seems to be heading bullish, could be a good sign for an uptrend.
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Seems like there is going to be a big pump coming in this week so grab your long positions and hold on.
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We can see the price dropping to that support level in the blue, should it drop below we will definitely see a reversal at the support level below it so don't dump.