🔥 Litecoin Back In The Channel: Consolidation Expected

A little while ago I made an analysis on Litecoin and the potential future moves.

In the analysis above I argued that LTC was either going to move up or correct downward. The corrections happened and was more intense that initially anticipated.

Whereas I thought that we'd see a minor correction to the $190-$200 area, we went much further and almost hit the major $160 support.

As it looks now, we're in a period of consolidation. I've marked two areas of support / resistance on the chart, we're likely trading inside this area for the coming days.

Most bullish scenario would be a daily close above $200 in the near future. This might be the signal for a completed reversal. Target: $230.

Happy trading!