Litecoin exited the range, breaking through the support level on $ 200 and testing it from below, now as the resistance. Thus, we can state the development of a downward trend. And since, according to the axiom of technical analysis, the trend is more likely to continue than to change, so further decline is more likely. The support zone starts at $ 100. Resistance is at $ 200. Sell.
As always, we have to consider the behavior of BTC, since they’re so tightly correlated. If BTC takes off in an upwards direction, this is going to be a losing trade. As of the 1hr, I see we’re headed in the opposite direction.
NickPadovani
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@TheGush, True, but it's been very stagnant, yet steady decline since the 135 mark. I think it's itching to hit 100, but who knows. I'M itching for 100 lol, so I can only hope.