Litecoin reached the $245 price today and it seems like it still has momentum to go higher. The cryptocurrency reached a $16 billion market capitalization being ranked on the 8th place along its peers and has a 24h trading volume of $7,5 billions. A retracement to the blue line seems very possible, because that correction would fuel the next wave up, but it isn’t totally necessary as Litecoin could make smaller consolidations and then crawl its way up. Another more bearish scenario would be a bigger correction at this level in price and time that would fuel it’s next up move that will send Litecoin to the all-time highs of $420 and beyond. Whatever the correction will be, we give a high probability to reach the $420 target and surpass at some point in time.
Trade with care.
Best regards, Financial Flagship
[Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.