Technical Analysis: Litecoin (LTC) - Feb 12th

Litecoin continued its move upward yesterday but can see a downward move happening within the next couple days that will retest the lower support. It looks as though we are trading within a corrective triangle in which we should see the price test the lower support one more time before we would see a breakout on the upside. We need to keep a close eye on this and make sure the price does not break out of the channel or take out a prior high or low and we should see resolution to this trend.

If we see a further correction within the stock markets, we should see more and more money flowing into the crypto markets which should push the prices up. I can see the next major impulse move in the cryptos occurring when a major retailer adopts Litepay as a payment method which will allow customers to pay with cryptocurrency and will be the next major event that will bring billions of new dollars into the cryptos.