Litecoin is in the lead today

In the past two days, Litecoin has been feeling more confident than the rest of the market. The reason for this - being listed on the Korean stock exchange Korbit. Thanks to this news, the asset is seeing trade volumes that inevitably lead to a change in price. Indeed, it increased by 11 percent, but disappointment with Bitcoin's lack of growth seeped into the Litecoin investor camp as well - the result, a correction to the 0.382 value of the Fibonacci grid.

On the chart, we see a formed ascending channel, similar to the channels of other assets. At the time of writing, its lower boundary is at $130 - we will take this value as the minimum that is acceptable for a safe continuation of growth. Bitcoin’s approach to $7,500 may well force Litecoin price lower, but then the channel will be broken and it will be necessary to start all over again.

We suspect that the surge in volumes and the sharp increase in the price of Litecoin will not last long, and everything will return to normal after the excitement of the asset’s exchange listing passes.

The perspective target is still $150, coinciding with the 0.618 Fibonacci expansion, but first there needs to be some trading in the range of $135 - $143.

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