The decline from 335.79 has been larger than expected and could move closer to support at 197 before the next impulsive rally higher to 335.79 and above. A direct break above resistance at 253 will indicate that the corrective decline from 335.79 has already been completed and the next impulsive rally to 335.79 and above is in motion.

Trading recommendation:

Buy Litecoin near 179 or upon a break above 253 for the next rally to 335.79 and above.

The material has been provided by InstaForex Company –

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