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.
Very good analysis. Also if you look at LTCBTC chart it broke out of the down trend line. So looks like LTC might give higher % gain compared to BTC.
https://steemit.com/bitcoin/@parindafx/litecoin-against-bitcoin
I could not agree more. (Also hoping it will as I have a few LTCs!)