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    Thread: Cryptocurrency Analysis

    1. 06-25-2021, 03:15 AM #11 Collapse post
      IFX_Selena
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      Litecoin Growth Expected!

      Litecoin seems determined to come back higher after registering a false breakdown below the $117.58 lower low. The cryptocurrency could increase if the price of Bitcoin will jump higher after printing a pin bar.

      Technically, a temporary decline was somehow expected before really developing a strong upwards movement. Still, in the short term, LTC/USD could move sideways before really deciding to come back higher.


      LTC/USD SELL-OFF IS OVER!

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      Litecoin is trading in the green at 132.35 level and it could jump higher as long as it stands above 117.58 and above within the ascending pitchfork's body.

      Personally, I would like to see a test and retest of these support levels before jumping higher. In my opinion, LTC/USD needs more bullish energy before developing an important upwards movement.


      OUTLOOK!

      Its false breakdown through 117.58 and failing to stay below the downtrend line represents a bullish signal. Moving sideways and making a new higher high, a valid breakout above the S1 (138.74) could bring us a new long opportunity.

      The median line (ML) of the ascending pitchfork could is seen as a major upside target.




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