Litecoin (LTC/USD) Chart Review - Litecoin remains strong!

LTC/USD

Litecoin was stronger than other cryptocurrencies. While the other cryptocurrencies broke to new lows on February 6, the LTC/USD pair held on to its February 2 lows, which is a sign of strength.

If the recovery breaks out of $175, it will indicate a double bottom in the short-term, which gives it an upside target objective of $243.

At the same time, the cryptocurrency has a slew of overhead resistances between $168 and $185. Hence, we anticipate a few days of range bound action between $107 and $175.

There are recommendations to buy once it moves above $185! Keep an eye on it.