Hello traders,
Here's a side by side of daily and weekly time frame of $LTC Litecoin against US Dollar.
I have highlighted two key level of support and resistance on the weekly, and it seems like we've been moving inside this range for the past 8 weeks now.
During this period we had multiple attempts to break above the 150 weekly level of resistance but failed to do so, and tumbled all the way back to prior resistance now turned support at around $100 which is the region LTC is currently trading at.
It's very important to wait for this Sunday's weekly candle closure, to see if we're going to close above the support region and the ascending trend-line, if so we can get ready for another rally to the upside, towards the likes of $155.
On the daily time-frame, the price is currently sitting just above the trend-line, I have highlighted the daily support and resistance level to take into the consideration. If the trend-line holds, $118 would be the next short term target that would indicate the next move for LTC. A daily closure below the trend-line would take us to $84.
Here's a side by side of daily and weekly time frame of $LTC Litecoin against US Dollar.
I have highlighted two key level of support and resistance on the weekly, and it seems like we've been moving inside this range for the past 8 weeks now.
During this period we had multiple attempts to break above the 150 weekly level of resistance but failed to do so, and tumbled all the way back to prior resistance now turned support at around $100 which is the region LTC is currently trading at.
It's very important to wait for this Sunday's weekly candle closure, to see if we're going to close above the support region and the ascending trend-line, if so we can get ready for another rally to the upside, towards the likes of $155.
On the daily time-frame, the price is currently sitting just above the trend-line, I have highlighted the daily support and resistance level to take into the consideration. If the trend-line holds, $118 would be the next short term target that would indicate the next move for LTC. A daily closure below the trend-line would take us to $84.
