Litecoin testing major support!

Price is now testing major support area starting at 296 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support, bullish price action, bullish divergence) and a strong bounce could occur at this level to drive up price to next resistance level at 339 (Fibonacci retracement, horizontal swing high resistance). Our next major level of support is at 271 (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing strong support above 5.7% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signaling that a bounce is impending.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.