But it’s also a great way for Litecoin to build up momentum to make a new high. Fundamentally, the coin is undervalued and under appreciated – and as the solver to Bitcoins Gold – it could be comfortably priced a lot higher. There are many instances where it can heavily compliment a transition from fiat to crypto… But we can’t see that with the chart.
I see this past week as only accumulation. As soon as the forex market closed and liquidity shifted into coins we saw a nice pop on LTCUSD 18.30% – leading to a potential breakout to the upside for a nice long ride to a new high.
Fib extentions show 650’s being a potential major target for the current leg up.
The big box is the key range we need to hold, then gain in order for the move to work. Within that range the little box is the key level which could make this pop a dud.
Follow this analysis on Trading View:
Litecoin is extremely undervalued. by BTCNN on TradingView.com
Disclaimer: Technical Analysis, or any trading and price related posts are purely speculative and are not recommended trading advice. Trading can suck, and you can lose all your money real fast which is why we have this disclaimer. Trade at your own risk.
Editors note: Litcoin could crash