Litecoin testing major resistance, watch for the break!
Litecoin is testing major resistance at 172.58 and a break above this level could trigger a move all the way u p to 213.62 (Fibonacci retracement, horizontal overlap resistance). We do have to be careful about strong intermediate resistance at 196.16. We can see a bit of a squeeze happening too with our ascending support line pushing price up steadily against the major resistance at 172.58.
RSI (34) sees major resistance at 62% where a break above could trigger a change in momentum to bullish and open a bigger move up.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees major resistance at 62% where a break above could trigger a change in momentum to bullish and open a bigger move up.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results