Litecoin (LTC/USD) decreased in the short term after failing to reach the 247.00 higher high. It has come back down as the price of Bitcoin has slipped lower as well. The crypto has retested a broken dynamic resistance and now it starts increasing.

The outlook is bullish so LTC/USD may resume its uptrend as the retreat seems over. Litecoin may increase if Bitcoin will resume its major uptrend after the current temporary decline.

LTC/USD Trading In The Green!

analytics606eb52009b5e.jpg

LTC/USD found resistance right above the 250% Fibonacci line and right below 247.00 static resistance. It has retested the broken downtrend line and now it could jump above the 250% line.

The bias remains bullish as long as the crypto is traded above the uptrend line. Now is traded far above this dynamic support, so it could try to jump higher after the minor decline.

LTC/USD Forecast!

The current decline could help the bulls to catch a new upside momentum. Jumping and stabilizing above the 250% line may signal further growth.

We may have a great long entry if the price jumps and stabilizes above 247.00 static resistance. The upside scenario could be invalidated only if the price drops below the uptrend line and under 200 psychological level.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.