LTCUSD (Litecoin) – Week 7 – Uptrend continued

2021年2月13日

Litecoin broke the $200 price today and before we see a continuation of the uptrend, we are expecting a retracement. We have 3 scenarios, either a small correction like the one it did in the beginning of February, a bigger one to the blue trendline and reach $180 before going higher or price will continue to reach new highs until it will eventually make a correction but not at this level.

Another important aspect that we learned this week is that the open interest in the futures contracts for Litecoin reached a record of $584 million. This makes LTC the 8th cryptocurrency by market capitalization but the 3rd in derivatives behind BTC and Ether.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.