LiteCoin bounced off a key support and pierced several resistance zones. Inevitable pullback is under way now, showing some zones of interest. Reaction at each support zone is worth observing for further clues.
$ 42.06-42.16 is immediate support, new highs from here would be very strong bull. $ 41.59-41.67 is likely target of retrace wave, so a SLOW turn around there is ideal. $ 40.65-40.82 should be very strong support, so if tested needs to bounce quickly.
Previous LTC analysis (click): I plot many coins as well as Forex and Stocks. Take a look at by TV Profile Page.
@BigHungDaddy, ty!
even in a downtrend, we can catch some scalp longs...
chrisbar07
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When is the best time to buy?
EuroMotif
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@chrisbar07, Hi, I look for a "Ping" (exact and quick reflection) off a zone to enter.
That can be either from a support below, or upon a retest of resistance (breaks above, comes back, and bounces with a Ping).
I expect the 42.68-85 red zone to be pretty tough now, so we might need a deeper pullback to break it (or if it breaks, look for retest).