Hey Everyone!
Happy Friday! Here is your daily dose of Technical Analysis on Litecoin and Lisk!
Disclaimer: This is not financial advice
Litecoin Technical Analysis
Litecoin has been having an interesting time as of late. It put in a bit on an M formation that ended up playing out slightly. LTC thhen found support at the 61.8 fib level for a nice bounce play against BTC. It has since hit resistance up in the 2 million sat range right around the 38.2 fib level working its way back up. This however has also made for an interesting formation in the candles which is starting to look like a nice big W on the daily and below so watch to see if that can play out!
For ichimoku, there's always multiple things to play but for the biggest plays watch for a kumo cloud bounce on the daily, and watch for a kumo cloud breakout on both the 12 hour and the 4 hour.
Lisk Technical Analysis
Lisk has been on a nice run as of late out performing quite a few of the other alts. Since about the 12th of February however it has on its way down working its way away from all time highs. It has now reached the 61.8 fib level and has had a nice bounce. This level was also in accordance with the 200 EMA and an oversold RSI. Watch for a potential retest of that level for support and a nice bounce play, or look for the level to break for a nice short play.
For ichimoku we have broken through the cloud on the daily, watch for price to make its way back up to test the bottom of the cloud as resistance and potentially break through. On the 12 hour watch for Lisk will have to break through the Tenkan line and then it will either be up to the bottom of the cloud or the Kijun line for the next level of resistance. One the four hour price has broken through the Tenkan line and is now making its way upwars, watch for resistance at the bottom of the cloud and Kijun. They may potentially converge making for a solid amount of resistance.
There you guys go, I do hope everyone enjoyed it. As always TA is subjective so if you see something I do not by all means just let me know! All comments and suggestions are welcome!