LTC/USD - Bearish wedge towards ATH? $240 next
LTC has formed a bearish wedge which should be able to take us to the ATH. However I have some concerns related to how the indicators look.
Particularly on RSI, if you check the 3D timeframe or even the 4h you will see a clear bearish divergence (higher price with lower RSI). This is also repeated on MACD with the histogram showing a bearish divergence as well on 3D.
For this reason I do not expect LTC to pass its old ATH any time soon and if we fall off this wedge, we will likely go lower towards $150 again.
For now I remain bullish on the short term and as long as we don't fall out of this wedge, price can reach $240 again.
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Particularly on RSI, if you check the 3D timeframe or even the 4h you will see a clear bearish divergence (higher price with lower RSI). This is also repeated on MACD with the histogram showing a bearish divergence as well on 3D.
For this reason I do not expect LTC to pass its old ATH any time soon and if we fall off this wedge, we will likely go lower towards $150 again.
For now I remain bullish on the short term and as long as we don't fall out of this wedge, price can reach $240 again.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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