Very little has been said about LITECOIN lately.
Everybody is focused on BITCOIN as the crypto King and maybe we are losing a little bit perspective on valuable and similar other cryptos as can be LITECOIN in this case.
The Daily Chart is very consistent. Oppositely to BITCOIN, Litecoin has been formed a long Trading channel, between two perfect lines, downwards of course, but they have never been broken during this long correction.
Nowadays, while BITCOIN is moving in a hesitant manner LITECOIN has performed very well, steadily and even upwards…
Supported by the 50 Moving Average which shows as well a sort of inflection upwards, we can see how LITECOIN is now approaching to the UPPER TRENDLINE, while the 200 Days Moving Average line is also approaching to the same point…
If we tried to extrapolate both lines, the 50DMA and 200DMA, following their trend, the situation may bring us to see the famous “GOLDEN CROSS”.
The GOLDEN CROSS indicates a confirmation of the reversal, so, from BEARISH to BULLISH and, according to me, LITECOIN is not far from that point, at least if comparing it with other Big Cryptos. It would not be wrong to expect this CROSS by April this year..
But first thing first, before LTC has to cross that uptrend Line, then will see…
Maybe would be LITECOIN the one to lead the MARKET’s recovery ;-).