Litecoin (LTC) Flirting With the $50 Level
Litecoin has seen plenty of action at the $50 level over the past year. It has served as a pivot point on several occasions and we find price flirting with this level again.
Breakout or Bounce Down
Looking at the chart you can see the support/resistance line drawn near $50. Price is battling with it now and we would need to see a price close on the daily chart above $51 to consider that level breached. If that occurs than there is upside to $60.
On the flip side if price fails to breach the level than we have downside risk back down to the prior low around $40.
Downside of $10
Upside of $1,000,000
Its totally obvious where to bet.
But, that was never really the question, was it?
Its more of, where do we put our money, that we have to put into cryptos, now,
to get the best returns.