Just like the rest of crypto, Litecoin has seen a relative strong two weeks, with the current week showing some weakness. Like I mention in many other analyses, I think we're currently facing a mid-cycle correction which will soon turn around in a continuation of the bull-cycle.
With Bitcoin trading at 38k currently, it's a matter of time before LTC will regain strength and make a push towards the current ATH. I'm betting that the current red area of support will hold and will function as a spring to launch LTC back to the sky.
For the coming few months, the green area of resistance is the main target. However, I'm expecting that the next bullish wave will extend beyond the current ATH. Potential new ATH between $500 and $600, which is based at the 1.272 & 1.617 Fibonacci extension from wave 2>3.
Happy trading!
With Bitcoin trading at 38k currently, it's a matter of time before LTC will regain strength and make a push towards the current ATH. I'm betting that the current red area of support will hold and will function as a spring to launch LTC back to the sky.
For the coming few months, the green area of resistance is the main target. However, I'm expecting that the next bullish wave will extend beyond the current ATH. Potential new ATH between $500 and $600, which is based at the 1.272 & 1.617 Fibonacci extension from wave 2>3.
Happy trading!
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