Litecoin is absolutely crushing upside resistance right now. As you can see, it has broken out above the uptrend channel (in blue,) and it has even poked it's head above the 200 EMA (in purple.) The last time LTC was above the 200 EMA was in the middle of May 2018. So, it has been nine months since we were last above this resistance. This is VERY important to pay attention to. If you haven't noticed, Litecoin is leading the pack right now. If it starts to explode above the 200 EMA, that is a very powerful indication that the market has made a tectonic shift. I've been saying since December that I think we have bottomed, and I am becoming even more confident, especially if the 200 EMA is held as support.
Looking at the price right now, we can see that it popped above the 200 on yesterday's candle, but today's candle is already turning back to test the 200 for support. If it can hold, that would 56.50 in LTC's crosshairs.
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So....we're just going to ignore the Bear-Div on RSI? MACDs starting to cross Bearish, too..?
RSIs are pretty much overbought on most timeframes as well...
micropinger
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@mhfcrypto, RSI is'nt a signal, it soon will go back down when trend is still bullish
mhfcrypto
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@micropinger, I disagree. You could say that about the MACD though.
But the RSI is different, especially when viewed in conjunction with other Indicators.
kardia
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@mhfcrypto, RSI and MACD are a joke. You are better off trading without these things.
Peterburry
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@rev214us, they can often be spot on for where to bail or buy in. You just shouldn't trust them alone
BDG
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Keep in mind if LTC falls below the 200 EMA (daily), bail (which it has). We may see it retest its $40 low.
The surge in LTC price is likely due to the halving in August 2019. The price will almost certainly drop weeks prior to the halving as it has in the past.
UnknownUnicorn1780802
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Bull run let's go!
PoopTrader
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Litecoin has bottomed, I've been saying this since Jan 1. I agree, a convincing break above 200 MA is our confirmation that the market has reversed.
jbutler7
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Not to mention that the LTCBTC chart is waaay over the 200d ema, which is also yuge