LTCUSD Reversal to $218+
Litecoin has found its bottom along $159 and is now looking like it wants to reverse going long towards $218.
This same exact pattern happened in January earlier this year around the $121 - $124 level before reaching $218. This time, Litecoin is accumulating at a higher spot trading price, so that only means that the next level of support is $262. The 2018 high level of resistance has already been 1st touched, so there isn't as much resistance there as when Litecoin was trying to hit $262 back in January.
From here, i'm expecting Litecoin to slowly creep up to $218 during the course of this month. For the most part of this year, Litecoin has been a sleeper coin patiently waiting for its turn. It looks like these past few weeks have been a shakeout of longs.
My targets going long are $218, and then a successful close over $218 would send the price of LTC to $262
This same exact pattern happened in January earlier this year around the $121 - $124 level before reaching $218. This time, Litecoin is accumulating at a higher spot trading price, so that only means that the next level of support is $262. The 2018 high level of resistance has already been 1st touched, so there isn't as much resistance there as when Litecoin was trying to hit $262 back in January.
From here, i'm expecting Litecoin to slowly creep up to $218 during the course of this month. For the most part of this year, Litecoin has been a sleeper coin patiently waiting for its turn. It looks like these past few weeks have been a shakeout of longs.
My targets going long are $218, and then a successful close over $218 would send the price of LTC to $262
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