Strong BUY recommendation on LTC.
LTC on June 17 broke through resistance at 40 and has continued its bullish trend approaching psychological resistance of 50 USD.
Technically increasing money flow into the coin (using volume colored bars on the daily), indicates a further uptrend to test the 50 resistance.
A break through the resistance would create an increase in awareness and bid size propelling the coin to 60 where consolidation will occur before
exponentially increasing longer term value to the 70 USD level over the next month.
Downside risk is support at around the 40 USD level which could last several weeks as it realigns with relative strength to BTC.
Therefore my recommendation to BUY/Hold LTC for a target price of 70+ with the longer term outlook (8 weeks) target of 90 USD before
another period of consolidation.
As always my recommendation is based on my own opinions. At this time I hold no position in LTC although that may change. Please consult a
professional financial advisor before risking any funds in any investment vehicle.
LTC on June 17 broke through resistance at 40 and has continued its bullish trend approaching psychological resistance of 50 USD.
Technically increasing money flow into the coin (using volume colored bars on the daily), indicates a further uptrend to test the 50 resistance.
A break through the resistance would create an increase in awareness and bid size propelling the coin to 60 where consolidation will occur before
exponentially increasing longer term value to the 70 USD level over the next month.
Downside risk is support at around the 40 USD level which could last several weeks as it realigns with relative strength to BTC.
Therefore my recommendation to BUY/Hold LTC for a target price of 70+ with the longer term outlook (8 weeks) target of 90 USD before
another period of consolidation.
As always my recommendation is based on my own opinions. At this time I hold no position in LTC although that may change. Please consult a
professional financial advisor before risking any funds in any investment vehicle.