Looking at a three-day chart, Litecoin (LTC) is approaching major resistance at $105.
$105 is the 23 percent retracement of the entire bear market. $105 is also the location of two prior lows in January and April of 2018 (Figure 1)
We see a possibility for Ethereum (ETH) to start rising the way Litecoin (LTC) has.
Everyone seems to have forgotten about Ethereum’s (ETH) use case. Specifically, people have forgotten that Ethereum (ETH), in fact, has a use case as both a currency and dApp platform.
Right now, we see a case for Ethereum (ETH) to rise vs. Bitcoin (BTC).
Figure 2 shows a diamond formation in Ethereum (ETH) vs. Bitcoin (BTC). If this formation plays out, there could be a 50 percent rally in ETHBTC.
Bottom Line: If Litecoin (LTC) can go parabolic, so can Ethereum (ETH).
Crypto is making a major comeback. In the words of the Crypto.IQ Trading Desk, that is something “worth celebrating.”
Join me there.