Common Bullish Advancement StructureAIONUSD and LTCUSD are both sharing a similar bullish advancement structure.
This is a common one for Litecoin with a similar pattern appearing before the massive move to ~300 in 2017
I will link the chart below
I have seen this structure across many coins, a good sign?
Ltcusdlong
More Litecoin LTCUSD / LTCBTCLTC/BTC can be seen reaching a critical area within a falling wedge that has formed
while the USD pair can be seen forming a similar price pattern comparable to the 2017 booster that pushed the price to ~300
From this and the Fib Channel I draw the conclusion that Litecoin could hit ~2k by early - mid 2022
One of the first coins I ever owned, can't go wrong
LTCUSD IDEASo my previous litecoin chart played out. We hit the yellow trend line.
We're currently sitting just underneath it and inside a rising channel.
2 potential scenarios that can play out drawn with the red arrows
I am leaning towards a retest of 157 before a continued move up.
Let me know what you think.
Will link my previous LTC chart below
ltcusd longHere's what I'm seeing on the graph:
Falling wedge pattern down to a retest the 157 support then proceed to break up and out of the wedge and continue up to the yellow line which is near resistance at 210ish.
If we break below 157 I would expect a retest at 120ish from there we either bounce up or fall into the pit of hell.
Litecoin could test 260 resistanceAlso Litecoin recovered after the deep selloff in the crypto market and after a low of 120 is trading now at 180.
In my opinion, a new leg up is in cards for this coin and dips towards 150 should be bought.
130 is now support and must remain intact for this scenario to be valid