Price Reactions
Litecoin exhibits a downward trend on the weekly timeframe, defined by a descending trendline. Recent lag in growth led to a revisit of the descending trendline area, causing a decline. The orange support box at the Fibonacci 0 level is a crucial support area, influencing price reactions. Anticipate price fluctuations between the support box and the descending trendline. A breach on either side could have a significant impact on the overall price direction.
2/3/20241 min read
The trend for Litecoin on a weekly timeframe is downward. A descending trendline has been established, and due to the recent lag in growth, the price has revisited the descending trendline area, resulting in a decline. The orange support box at the Fibonacci 0 level is identified as a crucial support area, which has repeatedly influenced price reactions. At present, it is anticipated that the price will fluctuate between the established support box and the descending trendline. A breach in price on either side could significantly impact the overall price direction.