Altcoin Newsletter #134
Features chart analysis on 8 Altcoins: LTC INJ FLUX ICX ADA OCEAN SHIB AR
In today’s Altcoin newsletter, I cover 8 different Altcoins, specifically:
- Litecoin (LTC)
- Injective (INJ)
- Flux (FLUX)
- Icon (ICX)
- Cardano (ADA)
- Ocean Protocol (OCEAN)
- Shiba Inu (SHIB)
- Arweave (AR)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in.
Litecoin - LTC/USD
Is the Litecoin Pre-Halving top in already?
Yes, historically LTC tends to top in June or July, a few weeks prior to the Halving.
And as time passes and the closer we get to August - there is certainly growing risk of a Pre-Halving top occurring for LTC.
However, we must consider the current dip as a potential dip, which is line with historical price tendencies at around these prices.
In the past (even in prior to the 2019 LTC Halving), LTC performed downside volatility to the ~$94/$96 level, before rebounding back into the orange resistance area (around $110) and Weekly Closing inside that region to confirm said region into new support.
Could that happen this time around?
Technically, LTC is retesting the Lower High (orange) diagonal resistance into new support.
Technically therefore, this could be considered as a retest.
Of course, Weekly Close below the retest level and/or below the orange region could prove difficult for LTC as that would yield a different outcome to what we've seen in the past.
Let's see if LTC successfully retests this current level as support and Weekly Closes inside the ~$110 region (such an outcome would be bullish for LTC).
So the question is - does LTC have one last leg in it before the Pre-Halving top?
Technically, it's still positioned for one, but we'll soon find out if we have an invalidation when compared to historical tendencies.