Weekly- Litecoin Technical Analysis

Litecoin has outperform bitcoin in rally litecoin grow 8000% in the year time. In a month times litecoin increases its vale to 400% with a remarkable speed in face to face rally with bitcoin.

Litecoin after breaking the psychological barrio of $100 litecoin has reached to the new milestone and on 13 Dec 2017 made a new high of $341 with a strong volume and strong break out with a market capital of around $1.7 billion and with a strong volume currently litecoin is trading at $320 on coinmarketcap.

Past Five Day Trade.

Three main Reasons for price rise.

Litecoin listing in coinbase.

Relative speed and transaction cost.

Litecoin creator Charlie Lee’s media blitz appearing in media.

Litecoin Fibonacci extensions and Pitchforks been blown out over the past week, price of the litecoin has been moved from sell one to buy zone very fast in the few days.

Currently all the clouds are bullish. As the bull purchased at the lower level of $240 with little correction its start again its new journey above $300, at the level of $300 to $350 a good resistance will be there, we see a range bound at this level for few days and if the bull break out the previous high new milestone of $450 will be the objective.

Finally Litecoin can reach $450 if it break the previous high.

Disclaimer: The information provided is individual knowledge and does not means to harm the company reputation and market value and does not means investment advice or tips, Investment is subjected to market risk and your own risk please do your own research and due diligence before investing. cryptocoinxchange will not be responsible for any loss.
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