LTC Medium Term Analysis
LTC is up 12% on the day currently, One of the stronger alts I am watching.
Lets keep it simple for Litecoin as we take a peak at the daily timeframe.
LTC has exploded higher the past 2 days after breaking out of the $60 ascending triangle. I do think LTC should slow down and consolidate for a few days before climbing higher, but the bullish momentum is strong and we could continue to the $100 key level before a larger pullback. But first the $80 support level needs to hold for the bulls, and a break of the $90 level would lead to a continuation to the $100 level. From there I do think we consolidate further with a possible pullback to retest the $90 zone. But medium term target is the $115 zone if we see the current momentum sustained.
Lets keep it simple for Litecoin as we take a peak at the daily timeframe.
LTC has exploded higher the past 2 days after breaking out of the $60 ascending triangle. I do think LTC should slow down and consolidate for a few days before climbing higher, but the bullish momentum is strong and we could continue to the $100 key level before a larger pullback. But first the $80 support level needs to hold for the bulls, and a break of the $90 level would lead to a continuation to the $100 level. From there I do think we consolidate further with a possible pullback to retest the $90 zone. But medium term target is the $115 zone if we see the current momentum sustained.
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