💲 Litecoin Better Buckle Up 💲

7 янв. 2023 г.

💲 Litecoin Better Buckle Up

💲 Nearest strong support zone: around the fibo level 0.5 of the entire downward wave.

💲 Nearest strong resistance zone: around recent local peaks.

💲 Technical environment:

- Moving averages: Uptrend

- MACD: Uptrend

- RSI: Uptrend

- Supertrend: Downtrend

💲 Price action: Litecoin as I have written many times before really stands out very positively against all major cryptocurrencies. It is currently crossing paths in the entire crypto market. I believe I can say that because it has already broken out by a whole 100% since the bottom. Looking at the formations it's shaping, it's hard not to get the impression that we're in for another wave of growth on this cryptocurrency. Currently, we have pierced the level of 0.618 of the entire last downward correction. The nearest resistance zone is the level of the last local peaks. In the perspective of the next weeks, I see Litecoin higher and higher if we start to see increases in the US indices which are highly correlated with the the entire crypto market.

💲 The scenario I'm playing out is a continuation of the increases over the next weeks/months considering the possibility of a reaction at the nearest resistance zones. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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