Starting off with the monthly chart for LTC we can see the last 3 monthly candles have been bullish, and LTC has just hit the 1 Month 20 Day MA $89, just shy of the 2 Month 9 Day MA $104, a substantial resistance level.
Here on the 3 week chart we can see that the current candle is very bullish, breaking above the 20 day Moving Average, however it hasn’t closed yet – also notice the steepness of the upper Bollinger Band resistance of $354 – this is a potential spike up target, though it is likely too far away for the current timeframe.
On the 10 day chart we can see a really bullish candle forming, hugging the Bollinger Band, which implies a continuation during the next 10 candle should this one close as is, and if that’s the case then the 3 week upper Bollinger Band $154 would be the target.
The weekly chart gives us a little more detail on what’s going on this week. We can see that the previous candle was extremely bullish, and now the currently weekly candle is trading above the upper Bollinger Band, implying that LTC is overvalued. We can expect LTC to come down to test the upper Bollinger Band, and consolidate between $89 and $104 this week.
The daily chart agrees with the weekly chart, we can see that LTC has broken above a resistance level of $89 on the left hand side, which also happens to be inline with our 1 month 20 day Moving Average – therefore, as we know support and resistance are always tested, right now the broken resistance is now being tested as support – but remember, the weekly Bollinger Band needs to be tested, so we can expect LTC on the daily chart to come down to $83 before pushing higher back into the region above $89. It’s likely that this week we will see minor movements between this region, and next week a break above to our higher targets.