Happy Monday everyone. Litecoin has been looking good the last few days. Currently, we just saw a test of our current support in which it just bounced off of. We are inside a symmetrical triangle pattern, in which if we manage to hold our support, we will continue to move upwards. If that is the case, then our next short term resistance is at about $228 - $230. If we happen to break our current support, then our next short term support is at $215.
I have updated our current bullish support trend line from our previous low of $106 back in the beginning of this month. That support happens to be right around the $200 mark. I don't see us testing those levels any time soon though.
It is possible we break our current bullish pattern in the next few hours. We need to see a huge push upwards if we want to stay in the pattern. I think it would be good to place a few buys in the mid $210's in case it does drop. If we do continue up, prepare to see a quick bounce off the resistance, and if you notice the volume increase, then that might indicate a new bearish trend.
I will update this as the day goes on if anything significant happens. Check out my previous day TA's in the related ideas section and follow/like if you want to stay updated with my daily TA's.
I have updated our current bullish support trend line from our previous low of $106 back in the beginning of this month. That support happens to be right around the $200 mark. I don't see us testing those levels any time soon though.
It is possible we break our current bullish pattern in the next few hours. We need to see a huge push upwards if we want to stay in the pattern. I think it would be good to place a few buys in the mid $210's in case it does drop. If we do continue up, prepare to see a quick bounce off the resistance, and if you notice the volume increase, then that might indicate a new bearish trend.
I will update this as the day goes on if anything significant happens. Check out my previous day TA's in the related ideas section and follow/like if you want to stay updated with my daily TA's.
