TREND, AND RENKO ANALYSIS OF LTC
LTC/USD COINBASE:LTCUSD
The diagram on the left shows Ranko Litecoin analysis.
In the Ranko diagram, Litecoin created a single-back pattern and broke it down. This is a signal for the continuation of the downtrend. This signal will be canceled immediately if LTC returns to the single-back pattern.
The chart on the right shows the LTC trend channel. As can be seen, the breakdown of the trend line happened in June. This is a sign of a downtrend.
If the downtrend is confirmed, the price of LTC could probably go down to the bottom of this channel. Confirmation or cancellation of this signal will be checked in the coming days
