In the 4h Chart Litecoin formed a bearish structure, it has failed to break the resistance at 155.00 and formed 2 lower highs, the most likely situation is that Litecoin could reach the strong support at 122.00. If the key level at 122.00 holds, this could be a good idea for new buy entries. If instead the supports breaks we might see a bearish move until 100.00.
Safe sells are set only under 120.00, otherwise i wouldn't open a sell position since in the weekly chart we still have a strong bullish trendline.
Safe sells are set only under 120.00, otherwise i wouldn't open a sell position since in the weekly chart we still have a strong bullish trendline.
Comment:
Range formed between 137.60 and 156.00. What to expect: if the LTCUSD manages to break the resistance we can expect a bullish continuation reaching previous highs, otherwise if the support doesn't hold we can expect a bearish move to key zone: 138.00. Im still bullish on LTCUSD so i wouldn't open a sell position.