See graph. Choose your buy moments carefully based on long-term TA. Thanks for all your likes, and if you wish: hit the follow button. Note: Fiat crises could speed up proces of price increase. **** Check also my other long term TA about Bitcoin ****
Litecoin continues to drift lower in early Tuesday trade, with the ninth largest cryptocurrency by market capitalization recently hitting a fresh 2018 trading low, at $21.90. The psychological $20.00 support level is now coming into focus, despite the RSI and MACD indicators being extremely oversold on the daily time frame. If buyers can create a bullish double-bottom, a short-term relief rally towards the $27.00 would then seem possible. The LTCUSD pair is strongly bearish while trading below the $27.00 level, key support is found at the $21.90 and the $20.00 levels. If the LTCUSD pair moves above the $25.00, buyers may test the $27.00 and $30.00 resistance levels.
LTCUSD is approaching our first support at 23.09 (100% Fibonacci extension, horizontal swing low support) where a strong bounce might occur above this level pushing price to our major resistance at 27.71 (61.8% fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is testing our support and we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.