Litecoin(LTC/USD) Update 12/07/2017: Long Term Uptrend Still intact,What Next???
litecoin·@jimmyrai28·
0.000 HBDLitecoin(LTC/USD) Update 12/07/2017: Long Term Uptrend Still intact,What Next???
<html> <p>Litecon has going through very shallow correction in its uptrend. This script is still strong as far its counterpart in crptocurrency space is concern. Today, LTC is trading at $47.71 and long bullish candle is visible in charts after yesterday's doji candle.</p> <p>Before going any further with this technical analysis,lets take our attention on chart below......</p> <p>https://steemitimages.com/DQmafBDuP3xxNyXaAmdBkcgdY8deX6229gzeCTQeDoUFmTU/image.png</p> <p>In chart above their are following points to take note of:-</p> <ol> <li><strong>Rising Channel:</strong> LTC is following and maintaing its uptrend for quite long time in channel above in blue highlighted area. This clearly suggests that LTC is still in its long term uptrend, and do witness some correction in between but these correction always proven healthy for LTC to reach higher.</li> <li><strong>Bull Flags: </strong>Green channel in between rising channel is marked as bull flag. As i discussed in prior paragraph about corrections in ongoing uptrend, so these corrections always forms flag like structure which is called bull flag. And one can notice on chart above that in last two occasion how LTC rallied after breakout from these bull flags. This time also we can expect same thing, and this expectation will become fact after the breakout from current bull flag. In fact, today LTC is attempting to breach the upper end of bull flag, so lets see how things pan out from here on.</li> <li><strong>10 Days EMA: </strong>The blue wavy line on chart above is 10 days EMA, which is at $46.71 level today and has been breached by LTC today. This is a positive sign as yesterday LTC has closed below it, but if LTC closes above this moving average today, then it is also a sign of resumption of uptrend. </li> <li><strong>Resistance: </strong>Green horizontal line on chart above is a resistance line, which is at $47.50 level. LTC also need to clear this resistance for resumption of its uptrend.</li> </ol> <p>________________________________________________________________________________</p> <p><strong>Now The Conclusion</strong></p> <p>In conclusion, its is clear that long term uptrend is still intact and correction in this uptrend is healthy. Their are few hurdles but I think LTC will clear those hurdles and resume its uptrend as it did before in previous occasions.</p> <p>________________________________________________________________________________</p> <p><em>If you like my analysis do not forget to</em> <em><strong>upvote, follow, comment</strong></em><a href="https://steemit.com/@jimmyrai28"><em>@jimmyrai28</em></a><br> <em>if not then criticize, this also will be highly appreciated.</em></p> <p><em>You can also drop a comment in 'reply' if want you want me analyze any script of your choice.</em></p> <p>Now you can also find me on discord channel: <a href="https://discord.gg/VvHmhvH">https://discord.gg/VvHmhvH</a> </p> </html>
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