UPDATE #3: Litecoin Entering $110-160 Buy Zone!
Our discount window may be closing soon but there is one more area of fairly strong resistance ahead (see chart).
Our discount window may be closing soon but there is one more area of fairly strong resistance ahead (see chart).
Personally, I would wait to buy up to 175 ...
LTC/USD
We had advised on long positions in Litecoin if the breakout sustains above the $175 levels. However, for the past three days, the bulls have been struggling to clear the 20-day EMA hurdle.
If the price breaks out of $175, it will clear the resistance from the 20-day EMA, the downtrend line, and the horizontal line.
We believe that this is a significant development. That’s we reiterate our recommendation to initiate long positions if the LTC/USD pair holds above the $178 levels for four hours.
The stop loss for the trade can be kept at $130.
On the upside, $200 is resistance. If the cryptocurrency struggles at this level, we should close the position or tighten the stops.
Once the bulls break out of $200, we might see a rally to $307.
https://steemit.com/cryptocurrency/@zorge13/price-analysis-feb-12-bitcoin-ethereum-bitcoin-cash-ripple-stellar-litecoin-cardano-neo-eosThank you for your comment and perspective!