LTC fell out of a significant head and shoulders, failed on the retest which coincidentally was at the daily 12ema, a very strong resistance.
Price got support from the 4H 200 ema.
My opinion is that price cannot go over the daily 12ema. Price always fell hard after being rejected by the daily 12ema. Price will continue its downward path to reach the head and shoulders target.
Price is currently going down the Gann fan which is also a very bearish indicator and hard dumps always happen with gann fan failures.
It will test the 4H 200 ema again and sit on it before it dumps. LTC always likes to sit on support before it dumps.
Price got support from the 4H 200 ema.
My opinion is that price cannot go over the daily 12ema. Price always fell hard after being rejected by the daily 12ema. Price will continue its downward path to reach the head and shoulders target.
Price is currently going down the Gann fan which is also a very bearish indicator and hard dumps always happen with gann fan failures.
It will test the 4H 200 ema again and sit on it before it dumps. LTC always likes to sit on support before it dumps.
Comment:
heads and shoulders invalidated.
