LTC 1D Short-term growth and further prolonged fall

13 янв. 2021 г.

In this idea we would like to show the general picture of LTCUSD for the last 3 years.
It, following ETHUSDT, tried to reach ATH which was $375, but actually stopped halfway at $185. The last time the price was there in early 2018.

At the current growth, the price from the second attempt was able to break the high of 2019 at $145 and went further by $185.
However, a sharp fall by -40% to $112 showed what happens after "big men" sold out and there is no one to push the price up, and where are the liquidity levels to buy.
Take a look at 2018, then the price touched this level three times.

LTC trading volumes attract special attention. They began to grow sharply before the breakout of the white trend line, then the breakthrough and growth, and volumes naturally only grew.
No wonder that in previous ideas around $45-50 we wrote that LTC is accumulating by strong buyer. It is a pity that they did not take all the movement, but only a few fragments, probably they did not believe that buyer can be so strong and focused.

Now the high that we expect from LTCUSDT is the growth to $168-170, and then a long price fall.
Still, you need to check the strength from above the white trend line, which was broken the day before.
The trend line retest in the zone of $85-91 can also be considered a tasty price to buy in the medium term.
It is necessary to gain strength before the next long way to the absolute high of the LTCUSDT price.
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