Litecoin possibilities
Updated
Litecoin retraced 78.6% from height, and touched an early uptrend line. For all of us holders out of there, let's hope this means we'll see a turnaround. Litecoin is still trading within a downward channel though, there is still some resistance to pass. We should see in the upcoming day whether LTC will break out or not. Most resistance should be in the 186-190 range. If it breaks past that point, LTC should be free to move up to 230,-
Note
Seems LTC is tightly trapped in the down- and uptrend... the upcoming hours will be decisive! A break downward could lead to 110 and eventually 80. For an upward outbreak 230 would still be a valid target, although I'd be happy to see it reach 183 first...Note
So, down it is. The 78 gave a solid bounce with lot of volume, so the top of the down-channel will probably be sought for again, but as long as it doesn't break this channel upwards, this is still dangerous territory...Note
Top of channel nearing. And there was some good news concerning LTC which is reflected in a sharped rise then most other coins. A breakout upwards might be in the cards in the next 6 hours!Note
well... more like 20 hours probably. So let's see what things look like tomorrow. After such breakout we might finally see some recovery of lost territory!Note
LTC escaped the downtrend, but is actually trading underneath the long term uptrend. This might act as resistance for a while. If LTC crosses over it we can look forward to decent recovery!
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