Litecoin Descending Channel Break | What Happens Next?

29 Apr 2020

Litecoin (LTCBTC) just broke out of a descending channel, at the same time prices are now above EMA100.

Seeing how the other TOP altcoins are behaving, it is likely that we will see Litecoin grow as well.


What happens next?

• If prices can remain above EMA100 or 0.005915, we can see the bullish scenario (green arrows) quickly develop.
  
• But if prices drop and close below EMA50 or 0.005840, we can have further retrace.
  

The RSI is really strong and we have bullish divergence with the MACD.
We are leaning green/bullish on this one LTCBTC.

This is not financial advice.

Namaste.