sumeet007

Technical Analysis of Litecoin (LTCBTC)

BITFINEX:LTCBTC   Litecoin / Bitcoin
Litecoin may keep on consolidating until it breaches the immediate resistance.

1)LTC is taking support at 0.0155 btc level and 0.0142 btc level as indicated by the seagreen channel.
2)There is a short term down trend which is shown in blue and will act as an immediate resistance.
3)Long term trend shows a converging triangle pattern .
Comment: There is a strong chance of trend reversal from here as it is in the lower support zone.
Comment: If the current support breaks, then the next support will be at 61.8 % Fib. Retracement level which is 0.012838 BTC Level

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