Litecoin will [LTC] After this analyst claimed he was being held captive

Litecoin [LTC] He was in trouble flipping. This is what John Bollinger, the famous analyst and inventor of the famous Bollinger Bands indicator said.

In preparation for the 2022 Litecoin Summit, Bollinger noted that LTC has been stuck in extremely low volatility areas for five months. He also indicated that there are pressures on the weekly chart of the LTC/USD pair on September 26.

Any truth in this?

Interestingly enough, Litecoin not only showed this kind of volatility against the US dollar. On the daily chart, LTC did the same against the dollar peg Rope [USDT].

While the Bollinger Bands (BB) showed that there were attempts to break through to extreme levels, it was met with resistance. For example, between June 9 and June 15, LTC attempted to break out of lower volatility but was met with resistance. There was a similar case around June 26 and July 6, and more recently on September 13 and September 21.

Source: TradingView

However, it may seem that LTC was on the verge of breaking out of its five-month mandate. with prize At $54.27, near the seven-day high, a move to higher volatility may be possible. At the same time, it may also be too early to assume that “help” was close on the horizon.

Evaluate the next steps

Judging by the awesome oscillator (AO), it looks like LTC is not ready to extend the current green range. Based on the AO indicator, the value of -2.85 was not enough reason to expect a continued rally, especially since the buying momentum was below the zero histogram point.

However, signals of picking up bullish momentum cannot be ignored given the green stance. Even so, LTC investors may want to keep expectations to a minimum. A look at the Chaikin Money Flow (CMF) did not reveal any adjustment for the extended height at -0.11. Therefore, LTC could lose 4.48% in short or no time.

Source: TradingView

As for the on-chain LTC gauges, they weren’t all rosy. feelings It showed that its volume rose 475.27 million from the previous day. As for the development activity, the reality was reversed as it decreased to 0.1. Despite the ups and downs, long-term LTC investors should wait to hear the Bollinger bands side of the story. However, it can be considered as a good way to predict lateral movement in the short term.

Source: TradingView

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