Aloha, traders!
Over the past week, we've seen Litecoin explode, as we had predicted over the weekend. However, its trend has continually been pushed back down by a common resistance line (green above). Now, on the 1H chart, we can see Litecoin is bouncing between a support (58) and resistance (60) line. If it can break either of these with good volume, expect more price action in that direction. I am very skeptical that Litecoin will continue its bullish rally in the short term, though.
We do not have any position on Litecoin at the moment, but should keep an eye for it to smash one of those 2 lines.
Thanks for reading, leave a like if you agree!
Over the past week, we've seen Litecoin explode, as we had predicted over the weekend. However, its trend has continually been pushed back down by a common resistance line (green above). Now, on the 1H chart, we can see Litecoin is bouncing between a support (58) and resistance (60) line. If it can break either of these with good volume, expect more price action in that direction. I am very skeptical that Litecoin will continue its bullish rally in the short term, though.
We do not have any position on Litecoin at the moment, but should keep an eye for it to smash one of those 2 lines.
Thanks for reading, leave a like if you agree!
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