Relative strength is something I speak about often and with good reason! When a crypto is acting stronger than the broader market, what do you think will happen when the whole market catches a bid?
Litecoin Not Pulling Back Like The Rest
If you look at the chart in this post you can see the positive price action Litecoin has had in recent months. Higher highs followed by higher lows consecutively.
Over the past week other alt coins that made a run have pulled back, but litecoin has mainly held steady with just a red candle today after a very shallow pullback if you even want to call it that.
What I really like is all the real estate on the upside. Yes, there are a couple of prior tops nearby, but the next real tried and true level is around $74.
That is solid upside compared to the downside support around $50 or so.
Will be interesting to see how the coin performs if the market on a whole catches a nice bid!