Looking at the 2h chart, LTC/EUR has recovered from the cryptocurrency flash crash of some days ago (after a clearly visible reverse head-and-shoulders) and is now consolidating at around 86€, exhibiting a bullish continuation flag pattern.
If price was to break past the resistance at 87.8€, the price could test the 100€ level (probably going higher, but since 100 is a round number, it becomes a psychologically important level to break).
The RSI is showing higher lows while the price made higher lows, which seems to indicate that the momentum is not fading away.
Also, the CCI hit 180 after the crash, which could indicate that the move is sufficiently strong. The CCI has then retraced inside the -100/+100 bands, but is still positive and looking like it will go up again (this will happen if there is actually a bullish flag pattern).
On the other hand, if price was to break the support at 86€ (it would have to close lower, like 85€), the price could fall till the nearest support at around 80€.
Any comment is appreciated!
If price was to break past the resistance at 87.8€, the price could test the 100€ level (probably going higher, but since 100 is a round number, it becomes a psychologically important level to break).
The RSI is showing higher lows while the price made higher lows, which seems to indicate that the momentum is not fading away.
Also, the CCI hit 180 after the crash, which could indicate that the move is sufficiently strong. The CCI has then retraced inside the -100/+100 bands, but is still positive and looking like it will go up again (this will happen if there is actually a bullish flag pattern).
On the other hand, if price was to break the support at 86€ (it would have to close lower, like 85€), the price could fall till the nearest support at around 80€.
Any comment is appreciated!