Cryptocurrencies

Litecoin Playing Ping Pong with the $75 Level

This $75 level for litecoin has been rather interesting.  Last summer it acted as a key support level before breaking down.  Recently price finally broke back above it only to fall below shortly after….

Here we go again

Looking at the chart in this post…

After dumping down to $66 price rallied to test that $75 area again and ran out of gas for a couple days only to push through it today, that test followed by a small red day or two and blast off higher is a classic bullish price move.

However, I’m not sure that I want to wave a victory flag because damn if this $75 level hasn’t been stubborn before!

Either way, price has broken out of the little descending channel it has been in since topping out just shy of $100 so that’s always a good thing.

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