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.