In today’s Altcoin newsletter, I cover 8 different Altcoins, specifically:
- Litecoin (LTC)
- Chainlink (LINK)
- Coti (COTI)
- Polkadot (DOT)
- Woo Network (WOO)
- Filecoin (FIL)
- Hooked Protocol (HOOK)
- JasmyCoin (JASMY)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in.
Litecoin - LTC/USD
LTC has been consolidating within this red-red range for months, despite downside and upside wicking throughout.
For LTC to culminate its pre-halving rally at new yearly highs, LTC would need to exact Step 2 and retest the Range High as new support which would enable a break beyond the orange Lower High.
And provided that Litecoin can break out from the red-red range, it’s trajectory could look something like this (green path below):
Historically, LTC has enjoyed swift ascents prior to its Halving, culminating in an upside wick into a major resistance (see pre-August 2019 rally).
And thought this current move hasn’t been as swift, there haven’t been any signs suggesting that the pre-halving rally is over; there is still scope for upside until further notice.
And a move to the next major resistance would probably be a move to the $140-$150 where upside wicking beyond the orange macro diagonal resistance could be possible to culminate the move.
After the pre-halving rally however, it’s possible that LTC will experience strong downside into a lengthy consolidation phase at the post-correction lows, post-halving.