hello everyone. before moving on to the video we ask you to
support us and subscribe to our channel please. Litecoin broke out and held above the $185.5
resistance on Feb. 12. This resumed the uptrend, and the bulls easily pushed the price above
the psychological barrier of $200 on Feb. 13. The Litecoin pair turned down from $230 on Feb. 14
and dropped to the breakout level at $185.5 today. The long tail on the day’s candlestick suggests
the retest of the breakout level was successful. If the bulls can now thrust the price above
$230.5, the uptrend could extend to the next target at $256 and then $272.
Contrary to this assumption, if the price turns down from the current
levels or the overhead resistance, then it may drop to $185.5 and consolidate
for a few days.
The first sign of weakness will be a break below the 20-day EMA ($174).
Chainlink's broke above the resistance line of the rising wedge pattern on Feb. 13. This is
a positive sign, as it invalidated the bearish setup. The bulls had pulled the price back into
the wedge today, but the long tail on the day’s candlestick suggests the bulls aggressively
bought the drop to the 20-day EMA ($27). If the bulls can sustain the price
above the wedge, it will indicate strength. A break above $35.6 could resume the
uptrend, with the next target objective at $41. On the contrary, if the bears sink
the price back into the wedge, it may catch several aggressive bulls off
guard. That may pull the price down to the support line of the wedge. A break below
this support could signal a trend change. Stellar's Lumen corrected sharply today, but
the long tail on the candlestick shows the bulls aggressively purchased the dip to
the 20-day EMA ($0.409).
In an uptrend, a strong rebound off the 20-day EMA
suggests the bulls are accumulating on dips. If the buyers can propel the price
above the $0.6006 resistance, the Stellar pair may resume its uptrend.
The next target on the upside is $0.79. Contrary to this assumption, if the bulls
fail to sustain the price above $0.50, the pair may again slide down to the 20-day EMA ($0.40). A break below this support
could result in a fall to $0.35. A deep correction in an uptrend usually
indicates a loss of momentum. If that happens, the price may remain range-bound for a few
days before starting the next trending move. Subscribe to our channel and open
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while making a decision.