Downtrend resumed. 1D Channel Down intact. Short.

10 Jul 2018

Litecoin followed a moderate, low gradient descending path since the last update, trading near the 1D Channel Down (RSI = 34.986, MACD = -5.452, B/BP = -8.3660) Resistance getting eventually rejected on the Lower High mark (Highs/Lows = -1.5514). This is a bearish continuation indication on LTCUSD for the medium term and should form a new Channel Down on 1H (Highs/Lows = -2.4514, ADX = 37.968) that should lead to the TP = 70.855. After that the November 02, 2017 bottom is next (49.508) but we will have numerous updates prior on how to approach this with the lowest risk. The oversold 4H chart (STOCHRSI, Williams, CCI, Ultimate OScillator) is the primary reason for this slow decline on LTC as this low pace ensures the gradual harmonization into balanced bearish levels.