๐ฅ Litecoin Back In The Channel: Consolidation Expected
A little while ago I made an analysis on Litecoin and the potential future moves.
In the analysis above I argued that LTC was either going to move up or correct downward. The corrections happened and was more intense that initially anticipated.
Whereas I thought that we'd see a minor correction to the $190-$200 area, we went much further and almost hit the major $160 support.
As it looks now, we're in a period of consolidation. I've marked two areas of support / resistance on the chart, we're likely trading inside this area for the coming days.
Most bullish scenario would be a daily close above $200 in the near future. This might be the signal for a completed reversal. Target: $230.
Happy trading!
In the analysis above I argued that LTC was either going to move up or correct downward. The corrections happened and was more intense that initially anticipated.
Whereas I thought that we'd see a minor correction to the $190-$200 area, we went much further and almost hit the major $160 support.
As it looks now, we're in a period of consolidation. I've marked two areas of support / resistance on the chart, we're likely trading inside this area for the coming days.
Most bullish scenario would be a daily close above $200 in the near future. This might be the signal for a completed reversal. Target: $230.
Happy trading!
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๐Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
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