Litecoin Holds the $50 Mark - Next Stop $80???
With the recent bounce in crypto it's no surprise that Litecoin was able to hold the $50 support level and push higher.
The Question is, What is Next?
Looking at the chart we can see the next resistance level is around the $78 level. That is the upside target I have my eye on, but there is some good price action around $62 as you can see from the dotted price line.
There was a prior bottom there back at the end of August which could act as a resistance level so it will be interesting to see if Litecoin stalls here after rallying hard from $50.
Some backing and filling wouldn't be the end of the world, but I wouldn't want to see price dip below the high 50's.
Let's see what the week brings.
LTC FTW
Thank you for posting from the https://steemleo.com interface 🦁
I like your target...go LTC!!!
Hopefully it gets there! Barely been watching crypto while in house reno mode in MA. Some good trade opps on BTC of late.
Are there those who think that LTC is overvalued at that price level, as you have identified it as a resistance level?
I don't know that I would use the term overvalued. It just means that is a prior zone of supply and demand. I generally keep an eye out for pivot points of the past.
I am learning from the book you sent on a free download.
Posted using Partiko iOS
Awesome! Glad it helps. I have videos on how I trade if you want to check them out...they are free to view for now. https://scaredycatguide.com/cryptocurrency-investing-course