Behold Litecoin, the great oscillatorWhat you see here is not financial advice!
Here is a very rough macro analysis of Litecoin against historical price/indicator movements. Sadly, unlike most other major cryptos, Litecoin has not broken its 2017 ATH. Some could see that as an opportunity however. I just thought I'd share this interesting similarity I picked up on while examining the MACD in the months prior to the 2017 ATH. I matched that with the "1" and "2" on the chart then vs now according to my interpretation of what could be around the corner.
Notably, in relation to the broad upward channel I've drawn (I drew this almost ages ago now) this MACD action is happening around the same place in the channel, very close to the midline. Lots of room to go up IMO if the past is any indicator.
All along the way up, the 10W EMA (blue) acted as pretty good support until it finally gave way in May 2018 for almost a year, in addition to other EMAs turning into resistance. Similarly, Litecoin is finding support above the 10W EMA again. Currently that's at ~$150, so we can't leave out the possibility that that level gets tested again in the near future before it tries to attempt new highs. We can see the same gaps forming between the 10W, 21W, and 200W EMAs as Litecoin pushes higher.
