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H & S, the barrier and the life line

  • LTC concludes the year with some key formations.
  • The new year would be interesting for crypts and bears.

Litecoin is ending the year at a level where the H & S model is forming over a period of time, there are key support areas on another time frame and resistance just above the H & S. Bottomline – l & # 39; beginning of the new year could give enough movements on both sides of the operations.

The LTC / USD is up about 0.75% per day at $ 31.355 and is around the high of the day. On the 480-minute chart, LTC created Head patterns and shoulders and all they need is a break above $ 34 and $ 37.12 for this breakout. But there's one problem: there's another resistance in the form of a trendline that is descending around $ 35. Given the scenario, it would be much to ask the bulls for a breakout.

On the other hand, even the downside is limited as there is ample support around $ 30 – the H & S model's cleavage, at $ 28 in the form of 21 days SMA, $ 27 – previous low and a strong support on the daily chart in the form of a declining trendline that has proved to be a lifeline for bulls throughout 2018.

LTC / USD chart 480 minutes:

LTC / USD daily chart:

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