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quantguy
Oct 26, 2022 10:11 AM

Can Litecoin Get to $60? Short

Litecoin / U.S. dollarBitstamp

Description

Litecoin rocketed higher with the rest of the crypto markets following expectations of a Fed rate hike tapering. We soared through the vacuum zone, rocketing from support at $51.92 and even broke through our target at $55.84, which frankly we thought was a long shot. Currently, we are above this level, hovering in the $57's. We have encroached upon another vacuum zone to $61.75, which is ambitious, and require another rally like we saw yesterday. If that doesn't work out, expect support at $55.84, or $51.92.
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