- Stabilizing above the UML confirms more gains!
Litecoin rebounded from 170.14 yesterday’s low and now is traded at 190.09 level at the time of writing. Technically, the outlook is bullish, so the price could reach new all-time highs anytime if Bitcoin and Ethereum will continue to increase as well.
The price challenges strong static resistance. Closing and stabilizing above 186.34 level could activate further gains ahead. Technically and fundamentally, the major cryptocurrencies are expected to increase further despite any temporary decline.
LTC/USD Temporary Drop Ended!
LTC/USD has declined a little but it has failed to reach and retest the R1 (168.13) static support and now is back above the R2 (185.36) and beyond the upper median line (UML). Stabilizing above the UML makes Litecoin very attractive for buyers.
A temporary consolidation above the upper median line (UML) could offer us a buying opportunity. Also, closing above the 195.15 historical high suggests buying as LTC/USD will resume its upwards movement.
LTC/USD Trading Tips!
Buying will be possible if the price closes and stabilizes above the upper median line (UML). Also, a new higher high, jump, and close above 195.15 represents a buying signal. The R3 (206.35) and the R4 (227.35) are seen as potential upside targets.
The material has been provided by InstaForex Company – www.instaforex.com
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