Cryptocurrencies

Litecoin Leveled Up After Catching My Attention

A couple days ago I wrote about Litecoin and how the price action caught  my attention.  We were looking at do scenarios with a bias to the upside one.  That scenario has played out and is in the midst of a move higher to the potential price target.

Upside Resolution

Looking at the chart you can see price has breached the 108 area resistance and is now halfway to the 125 upside target.  If price continues to move up aggressively in the near-term this is where I would expect the buyers to run out of gas.

In the meantime, seeing price close this current candle above 108 is a must to establish life in this new range.

So the update, 108 is now our downside target and support while 125 is are next upside target.

 

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