Dear traders.
In this short article, we will analyse the price of Litecoin during the last months.
After 400 days of bearish market, it’s incredibly difficult to see something positive from the charts.
In this short analysis I will show you two bullish signs on Litecoin.
First point
Take a look to the volumes: Starting from November they started to increase slightly, making me think someone is accumulating at those prices.
My hypothesis is supported by the fact that the volume has increased more in the days of the pump.
Second Point
Take a look to the EMA200 cross. Every time the price crossed it, then retraced. But do you notice something weird this time?
Yes, this is the only time that the EMA 200 is moving upwards since May, and we have just made a higher high.
All positive, very positive signs.
This is why we expect LTC not to retrace too much. Instead it should go for another spike up.
Of course, don’t forget that the behavior of LTC is depending on BTC.
Trade Safety
In this short article, we will analyse the price of Litecoin during the last months.
After 400 days of bearish market, it’s incredibly difficult to see something positive from the charts.
In this short analysis I will show you two bullish signs on Litecoin.
First point
Take a look to the volumes: Starting from November they started to increase slightly, making me think someone is accumulating at those prices.
My hypothesis is supported by the fact that the volume has increased more in the days of the pump.
Second Point
Take a look to the EMA200 cross. Every time the price crossed it, then retraced. But do you notice something weird this time?
Yes, this is the only time that the EMA 200 is moving upwards since May, and we have just made a higher high.
All positive, very positive signs.
This is why we expect LTC not to retrace too much. Instead it should go for another spike up.
Of course, don’t forget that the behavior of LTC is depending on BTC.
Trade Safety
