Technical Analysis: Litecoin (LTC) - Feb 16th

Litecoin is starting its next move upward after taking out the resistance set as a prior high around $215. Look for it to climb and hit the next level at $267 and make a similar move as we saw yesterday as it will pull back and retest said line. As I stated before in my previous posts, Litecoin looks to be on its way to take out its all time high set back in December. The next couple days we should see a significant rise in price and continued rise for the next couple months as Litecoin should have a 4 to 1 ratio with Bitcoin in price. This will most likely take a long time to catch up but the introduction of Litepay should help as it would give Litecoin the much needed value it needs to catch up to Bitcoin in marketcap.

Do not get distracted by the news surrounding Litecoin as well as the LitecoinCash which I have heard a lot of interesting thoughts and opinions about including Charlie Lee's thoughts who stated it is just a money grab. If you don't know who Charlie Lee is, he is the creator of Litecoin and has since posted on his Twitter he does not endorse LitecoinCash. I have seen a lot of News come out surrounding Litecoin and people saying the hard fork into LitecoinCash this weekend is the cause of this current rise. I don't believe this to be true as we have known about this hard fork for awhile and didn't see any moves until earlier this week. Be careful when it comes to cryptocurrency news as well as any other news for that matter and take everything you hear with a grain of sand. Do your own research and make your own conclusions as there is a lot of misinformation out there and the only way to make informed decisions nowadays is to do your own research.