quantguy

Litecoin Breakout

Long
BITSTAMP:LTCUSD   Litecoin
Litecoin has broken out from its ranging, but not to the extent of Ethereum. It still has quite a way to go before new highs, or before it even matches relative highs. Currently, it is facing resistance from a Fibonacci level at 167. We are likely to have some troubles with this level and may retrace back down to find support at the next level at 151. After that, if LTC returns to bull mode, it should be able to secure relative highs again, just keep in mind that this coin does not move with the volatility of the others

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