The volume on LTC is building. LTC has far too high of volume lately to stay so undervalued. The pressure is building. Also, fiat is coming into LTC via Coinbase, so that in my mind is enough to push LTC's price up regardless of SegWit activation.
The volume is indeed insanely high.
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I can't see LTC not going up again
when price is changing volume goes up too, it doesn't matter if it is changing for the better or for worse (down or up) and it only shows people who are making trades to take advantage of the changing price in short term aka day trading. and you can't say it is positive. and in this case the high volume shows a massive dump in the past 24 hours.
what is positive and shows good signs is when price is stable or with little change but the volume is high which shows accumulation with smart money coming in without anybody noticing.
i am not saying litecoin can not go up again, i am saying your conclusion is wrong.
The volume is extremely high but it is not a panic waterfall collapse. That to me is very bullish. It indicates to me the smart money is trying enter at the lowest price they can before the next blast off.
Nearly all the altcoins are down because the market is confused and thinks that Blockstream has defeated Jihan Wu's BU, but I expect BTC is topping out at $1200 (range bound as I predicted many days ago) once the market realizes that this BS about SegWit signaling on Bitcoin gaining momentum is nonsense. Bitcoin will never get scaling. The market will digest this, Bitcoin will stumble and Litecoin will rocket up.
The market is stupid because Bitcoin will actually benefit from scaling on Litecoin, but the market has to go through its gyrations. In any case, my thesis is Bitcoin remains range bound until Litecoin catches up, because the charge says "It Is Just Time" and because Bitcoin can't move up until there will be scaling in the Satoshi's PoW ecosystem. Litecoin will get it, Bitcoin won't, but that it is a good thing for Bitcoin. Market doesn't realize any of this yet, but the smart money does.
Channels are important and to me the market says this is not an issue. The thick blue line in the LTCBTC chart is the long-term downtrend from the 2013-2015 highs. This run should go to 0.015 at a minimum. I also consider this to be a stair-step advance where the decline is not enough to allow solid entry points, but sufficient to force weak holders into panic selling.
Additionally, markets like to fill the gaps seen on the downward move in the LTCBTC chart, so we should come back up to at least close those.
We have until April 10th for the long-term downtrend and the bottom of the current channel to force a direction. There is likely to be a decisive move over the weekend, which I expect to be positive.
I would sell some if 0.00855-0.00865 is broken, and most if 0.00775 is breached.
Additionally, markets like to fill the gaps seen on the downward move in the LTCBTC chart, so we should come back up to at least close those.
We have until April 10th for the long-term downtrend and the bottom of the current channel to force a direction. There is likely to be a decisive move over the weekend, which I expect to be positive.
I would sell some if 0.00855-0.00865 is broken, and most if 0.00775 is breached.
We are still within the channel!
