People sometimes say “the bigger the better. This rule applies to a number of things, including the timeframes of charts. Sometimes it doesn’t make sense to look at a 4-hour or daily chart, but a monthly chart does. Litecoin looks great on this timeframe due to a test at previous highs and a bullish divergence.
Strong support litecoin
To start with the retest. Looking at the lower yellow zone, we see that this is a spot where litecoin previously found resistance. Currently, this spot serves as support since the reaction to the May dip. The price is currently coming back to this zone for a second time. Since this zone has proven itself as support before, it is plausible to think that the price will also get a push to the upside from here.