I don't want to get too excited about a breakout in the early stages like this, but we can do some fun visionary work. Typically, when traders want to find a price target, they usually measure the structure in question, and then add the measurement to the breakout area to estimate a price target. When I do this sort of estimating, I like to find support or resistance that is somewhat close to the estimated price target. However, if there is a strong level halfway to the estimated target, I will opt for that. In this case, I think a fair target would be the 50% retrace, around $234. On the , we can see that it continues to expand upward, and it has crossed the zero line, just like the other cryptos, which is a short-term buy signal. On the upside, initial resistance should be met at the 200 (in purple.) On the downside, the critical should act as initial support. Below that, LTC would find support at the top of the falling . Keep an eye on that breakout. If it continues to trade above the breakout level, that will be an indication of further upside. If we get back below the breakout level, it will indicate a failed breakout, and prices could turn lower.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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