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Litecoin Sees Strength on the Indicators, During Trek to Find Bottom - Price Analysis

With its having, and some recent FUD behind it, Litecoin (LTC) is still searching for a bottom on its LTC/BTC chart after a small season of significant correction of over 60% from regional highs. Some bullish indicators point to the possibility of some small gains soon; but a larger trend change - back skyward - will need buyers to step up to the plate.



We turn first to the daily LTC/BTC pairing, we see some solid performance on the RSI. Price has been arcing up for a while, and some bull divergences are apparent on a couple of the troughs - although this is not all the way consistent.


LTC chart by TradingView


Quite simply, time will tell if this is the bottom of LTC’s down movement. Volume, as is common with alts these days, is the problem: it’s not there. The last bull divergency obviously didn’t pan out on the daily, and this one might not either. It seems, however, that LTC should at least process to the top of this range - which could bear some short term profits for sharp traders. Read More at CryptoGlobe...

#LTC

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