Litecoin has broken out of the local resistance zone, where the price has somewhat secured this zone as well.
We are not looking at further pushes to EMAs or a local rejection from the current zone (fakeout scenario).
We are waiting for outer zones to be reached, and from there we will be looking for further movement, either to upper zones or to lower zones...
Litecoin is back, and this time in the daily timeframe.
Here, our attention is all on that 200EMA, while multiple times it has been a zone of bounce for the coin.
Pressure is high and demand is high in that zone, so we are looking for any potential candles to secure this zone fully in order to see a full-scale movement to lower zones here!
Swallow Team
This trade fundamentally relies on the idea that capital will rotate from BTC and memecoins to old POW coins like LTC. Most likely to occur during summer.
Technically, i like the chart
these are some probable setups for litecoin, at the moment I'm neutral but if there's a backup and test of the backup we can open a long position with low risk.
After some time of accumulation price is making higher highs, price broke the last high and the backed up to test it again, its a good place to open a long position with low risk.
This is just my 2 cents on the LTC chart, going over the 106 and closing a few daily candles above it for confirmation will invalidate the H&S or if we break and close below 70
With the new review of the #Litecoin chart after a long time, we see that the price is trading in the demand range of $80 and I expect it to start its strong growth soon from this range! The targets of this cryptocurrency are $92.5, $115, $200 and $268 respectively! The expected yield in the long term is something around 200%!
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The momentum price has not yet completed its upward trajectory and can reach $95 on the daily timeframe and above $100 in the coming weeks. What do you think? Do you think the recent market drop was a correction or a continuation of the upward trend?
