LTC: Weekly Chart Update.

4 jul

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

LTC is currently retesting the crucial supporting trendline with the current price at $69.64. This supporting trendline has been well-respected since December 2018, and a breakdown below the support will likely be an uncomfortable situation for LTC.

Early this year in February, LTC broke above the important resistance trendline, and technically, at present, it is in a retest phase. The upcoming weekly close will be important for LTC.

Key Observations:

~ Current Support: $69.78 (Must Hold)
~ Lower Support: $47.90
~ A rebound from the current support will possibly build up better chances for a bullish rally in the coming days

DYOR. NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

Stay strong.

#LTC