Starting off with the 2 week chart for LTC, we can see that the previous candle was very bullish, just shy of testing the 2 month 9 day MA of $104, and closed below the 1 month 20 day MA of $89 – This implies that we will see LTC come down during the next week – inline with BTC and the rest of the market (BTC being market dominant, everything tends to follow the same direction of BTC)
Moving onto the weekly chart we can see the rejection of two substantial resistance levels, and now price is heading down to test the 9 day moving average, inline with the horizontal support that the large bullish candle broke through – remember, once a resistance level is broken, it is always tested. So it is very likely that we will see LTC come down to test atleast the 9 day moving average of $67 this week.
The daily chart looks very familiar, the same set up as BTC, ETH and LTC. Price broke below the 9 day moving average, tested the 20 day moving average, and is currently on the way down to test the 20 day moving average again.
At this point, as we expect LTC and the rest of the market to drop, LTC should be heading towards $67, which will happen after the daily 20 day moving average crosses the 9 day moving average, with a sharp drop hitting the steep lower Bollinger Band that price is attracted too.
The region we are looking to buy is between $66 and $60 with a stop loss below $50 before heading higher next week.