Litecoin lies in an attractive position: Long trade on a low risk is possible from here.
* Couple of days ago, Litecoin's crew celebrated the 8 years of network running with $500,000,000,000 worth of transactions registered during this period.
* A week ago, Litecoin made an attempt to break out of the consolidation zone, but the endeavor was not backed up by the enough to push the price above $60. As a result, LTC pulled back and marked the second bottom around $51. However, did not follow the price movement much, and now shows weak signs of potential divergence.
* At the moment, Litecoins seems to be lying just right on the bottom, so it might be a good opportunity to enter Long with a really tight Stop-loss. But the uptrend will be truly confirmed when the price runs across 21 Daily at $57.50 and breaks above the descending trendline around $59.
* Likewise, if the Bears intensify their activity again and successfully drives the price below $51, the scenario could be resumed and again activated.
Active trade signal
Buy @ $53 - $54.
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