Litecoin - Back Above Support

I posted about a Litecoin support level being breached yesterday, and today we've gone back above that level once again.

It was re-tested earlier with a brief dip below $242, but we're now once again trading between the 2 key levels:

I mentioned that these are not the best support levels I've ever drawn, they are a little tricky to pin exactly, so I decided to try and find a better positioning for them, here's what it looks like updated:

The bottom support level does seem to be best placed at $242, but the upper support/resistance looks a better fit at around $255 than at $258.

These are the 2 key levels I'll be watching over the coming days. I'll also be keeping an eye on the downtrend line you can see marked with the downward red diagonal.

Let's also have a quick look at:

IOTA

I've been following IOTA since its massive breakout recently, largely waiting for an opportunity to finally grab some.

(I sadly missed the train on this ride!)

While checking the IOT/USD pairing and IOTA/ETH pairing, I noticed a couple of triangles forming.

The first one is this:

That can be found on the IOT/USD trading on Bitfinex. Triangles usually mean a breakout of some kind is about to occur*, so it will be interesting to see which way this one goes.

• In case you're wonder why a triangle matters.

Since I'll probably be purchasing IOTA with Ethereum, I thought I'd better check that pairing out, and another triangle was forming there too:

It was quite easy to spot after charting a support level and a downtrend line, but on closer inspection it appears that the triangle is actually being broken through as I type this line:

I'll be keeping a close watch on that this evening to see if heads higher or lower. Fakeouts can always be a possibility.

If you're waiting for an entry point on either LTC or IOTA, let me know where you plan on buying below!

Thanks for viewing!