What an exciting last few days! LTC is finally back into its bullish state that we all love.
Short-term, we are currently bearish, but we have some support in $213-216 range. I think this could be a good place to put some buy orders. If that does break, then next support is in the mid 200's.
If we do bounce off our support, that will confirm we are in a symmetrical triangle pattern. If that is the case, then our resistance to break it will be at about $230. The highest point we touched in that run was $236.30, so that is our next target after that.
I'm hoping we can move sideways for the time being so we can consolidate at these levels. BTC is looking extremely healthy also, I believe we lost some of our momentum due to people moving their LTC into BTC in the hope that it continues to increase in price.
I will keep an eye on this to see if our support is broken and will update if needed. Please like/follow if you like to stay up to date with my TA's and please check out my previous day TA's of Litecoin in the related ideas section / my profile.
Short-term, we are currently bearish, but we have some support in $213-216 range. I think this could be a good place to put some buy orders. If that does break, then next support is in the mid 200's.
If we do bounce off our support, that will confirm we are in a symmetrical triangle pattern. If that is the case, then our resistance to break it will be at about $230. The highest point we touched in that run was $236.30, so that is our next target after that.
I'm hoping we can move sideways for the time being so we can consolidate at these levels. BTC is looking extremely healthy also, I believe we lost some of our momentum due to people moving their LTC into BTC in the hope that it continues to increase in price.
I will keep an eye on this to see if our support is broken and will update if needed. Please like/follow if you like to stay up to date with my TA's and please check out my previous day TA's of Litecoin in the related ideas section / my profile.
Comment:
I don't think I will have time today to post a TA, but we just bounced off our resistance of 235 again, so that will be LTC's main goal for the day.
Currently trying to break this upper resistance band and hopefully we can push on up to $230.