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The Litecoin and ChainLink price are surging up as we speak, but this important pattern is playing out on the 4-hour timeframe for both of these coins. And this pattern is pointing to a very stiff resistance soon!
In this Altcoin analysis, I will be talking about these patterns and the key levels to watch on the Litecoin and ChainLink charts.
Key Levels To Watch For On Litecoin
The last time we talked about LiteCoin, we warned about the coming bearish move-in price LiteCoin Playing Out As Predicted! Sell Now?
If you had taken any trade based on that analysis, you should be in deep profits because Litecoin played out perfectly as we predicted, dumping more than 14% in price before finding support. But is the sell-off over?
The $338 Key Level
The Litecoin price is currently running into the $338 key level. This level has served as key support before and might serve as strong resistance in the coming days.
If this resistance level holds, we can expect to see an ABC pattern play out to the downside. This pattern points to a massive surge to the downside soon.
Same Pattern Playing Out On ChainLink
The same bearish ABC pattern is playing out on the ChainLink chart. This points to a bearish move in ChainLink in the coming days if the $46 level holds.
A Break Of These Key Levels
This bearish prediction on both LiteCoin and ChainLink is only valid if the Altcoin prices continue to trade below the key resistance regions mentioned in this analysis. A break and close above these levels will only signify a growing bullish momentum and a potential surge back above the previous highs in the coming days.
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