LTCUSD (Litecoin) – Week 20 – Temporary weakness

Litecoin made an all-time high on May 10th reaching a price of $413 USD per Litecoin. After months of stuttering, LTC finally joined the likes of BTC and ETH in reaching that milestone moment during this bull run. With that, the bull case is building. Some suggest this is just the beginning, with more upside for Litecoin on the way.

Technically, after the top on the 10th of May we expect a bigger correction for this pair. We broke the blue trendline entering into bearish territory and we forecast the price going down at least one more time, passing through the $290 USD area.

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.

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