Litecoin- will it finally break under 100?
Since November 2021, Litecoin was one of the weakest coins, losing 66% of its value from 300 to 100 at the moment of writing.
Looking at the chart we can see that the price evolution was very "technical" and each rally was sold in resistance or very near.
In my last Litecoin comment I said that a rebound from 100 is probable but this should be considered a good opportunity for selling around 120 and as we can see, the coin reversed from 116.
Now we are back to 100 and I believe this time we will have a break.
My target for this drop is another 30% at 70usd per coin.
Best of luck!
Mihai Iacob
Looking at the chart we can see that the price evolution was very "technical" and each rally was sold in resistance or very near.
In my last Litecoin comment I said that a rebound from 100 is probable but this should be considered a good opportunity for selling around 120 and as we can see, the coin reversed from 116.
Now we are back to 100 and I believe this time we will have a break.
My target for this drop is another 30% at 70usd per coin.
Best of luck!
Mihai Iacob
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