#ProjectCrypto LTCUSD: (h2)
Litecoin has declined, but not too much, the price has pulled back to $103.33, then a reversal is observed, a confirmed bullish engulfing has appeared, and the price has returned to $107. The Balance of Power and Aroon indicators signal growth; we are waiting for movement towards $114-$115.
Lark Davis noted a bullish signal on the Litecoin chart, which had only previously manifested twice in the history of the cryptocurrency. This refers to the crossing of the 50 and 200-week moving averages. This situation is called a 'golden cross.' Typically, its appearance indicates the likelihood of an imminent price increase for the asset. The pattern appeared twice in May 2017 and March 2021, and both times it was followed by growth.
Profit to everyone, friends!$LTC
108.06
