Since January 10, Litecoin has dropped from $ 185 to $ 112 in just two days. For almost a month now, it has been forming downwards.
The Market has always been Pump and Dump since the date mentioned above. Let’s our analysis focus on today's movement. I put a horizontal line at the bottom which is support 112 and also at 185 which is resistance. The market is still moving in them so far.
On January 27, 2021, Litecoin no longer touched the low 112 but hung at 118 after touching the higher low 164.
And it started to rise again to 142 since Elon Musk posted BITC0IN as his BIO on Twitter. When Litecoin went down, it was up to 125 levels lower.
Looking back, even though our outlook is bearish, it still seems bullish following the trend ever since.
It currently breaks the higher low at pivot point 136 when the lower high 125 does not break out. Litecoin is currently up + 8% in 24 hours Market Cap +9Billion. The Higher low is completely broken, coming out of the symmetrical triangle, all the moving averages that are already below and push up. The resistance has been broken out twice from January 29TH, 2021 to February 2021. Shapes head and shoulders left and shoulder right below.
The first goal is to chase down 145, and it is likely that it will reach 152, pump up to 162 again.
Personally, I have not stopped buying cryptocurrencies so far when I have some amount of money on hand. All my FIAT currency I converted to Crypto. Because my point of view is that Crypto will go far beyond what we see today. I recently bought an LTC and HOD, some of which are used for trading. According to my analysis, this Litecoin will rise again.
Good Luck everyone and be wise
