Ltcusdsignal
Litecoin- Buy dips for good R:RIn my previous Litecoin analysis I said that after finding a strong floor around 100 figure, Litecoin can rise and challenge 120-125 zone resistance.
Indeed, after breaking above consolidation's resistance at 116, LtcUsd accelerated its gans and reached 130 zone, above the mentioned target.
Now a small correction seems to be on cards and this can be a good opportunity to open long trades.
Bulls can target the next resistance at 140 and a drop under 120 would negate this scenario
Litecoin can rise 15-20%Litecoin held pretty well during yesterday's selloff and the coin couldn't drop to make a new low, instead confirming that bulls are very strong under 100 figure.
At this point, we can speculate that a double bottom is forming on short time frames, with the neckline at around 110.
In my opinion, dips towards 100 should be bought and, with the pressure lifted from the sell-side in the crypto market, a break above the neckline is very probable.
Short term traders can target 125 resistance for their buy orders and negation comes with a drop under 95
Litecoin- New leg up to 180?After finding a bottom at 120, LtcUsd has reversed and made a local high slightly above 150 figure. A correction followed and the price dropped again to 130 zone. Here Litecoin seems to have found bids and we can expect a new leg up from this crypto.
This leg up can drive the price to 170 resistance with an extension to 180.
I'm bullish as long as Litecoin stays above the recent low.
Litecoin- Next stop 100?I've said it before, Litecoin is the weakest of all big 4 with the price consolidating in a tight range in December and with clear no buying power.
Finally, we have a break under 140 support and now the price is trading at 129. I expect continuation to the downside and 100 figure can be seller's target.
Sell rallies is a good strategy for Litecoin and only price above 160 would negate this bearish scenario