I believed it could be fascinating to comply with up the on and think about one other of the favored cryptocurrencies and on this case, it’s , to spotlight each the similarities of the day by day charts, but additionally to point out some variations which can in the end show to be fascinating.
If we think about the similarities first, the volatility candle of Could 19 noticed this cryptocurrency additionally falls sharply together with the others, and shut with a large unfold down candle on excessive quantity, however with a wick to the decrease physique, signaling some patrons stepping in on the extremes.
As with Bitcoin, Litecoin then moved right into a congestion part across the quantity level of management denoted by the yellow dashed line and anchored at $175. Nevertheless, in the course of June Litecoin then broke away from the VPOC to the draw back on rising quantity and on the identical time took out the low of the volatility candle within the $150 space and testing the $100 value area earlier than recovering and transferring right into a slim congestion part missing in volatility as with Bitcoin, however at a decrease stage from the VPOC itself.
As we would count on with such contained value motion, volumes have additionally fallen during the last week or two to very low ranges. The worrying facet right here for Litecoin and Bitcoin bulls by extension is the very fact the worth has damaged decrease from the VPOC. As we noticed on June 27 the patrons stepped in at $100 and reversed the decline which we might want to see repeated and with stable rising quantity if Litecoin is to return to the VPOC at $175 within the brief to medium time period.
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