Will the litecoin rally be sustained into the weekend?

in litecoin •  7 years ago 

newltc.JPG

As you can see, LTC broke through the first point of resistance in its move upward, but encountered even more stiff resistance in the $230, and has so far been rejected. As of now LTC has held its gains above 110, but there is a descending triangle forming on the hourly chart that is a bearish indicator.

moreltc.JPG

If the support holds in the $210 range, then LTC should have another chance to retest that resistance at $230. I currently have a stop loss set at $206 since I don't want to mess around should LTC retrace a bit too far. Should LTC drop below the support here, there will always be a chance for reentry lower down.

Please note, this is only my own personal speculation for personal learning, not financial advice. Good luck with future trades!

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You have received an upvote from @nicestbot. I am an automated curation bot trying to make minnows happy.

To the question in your title, my Magic 8-Ball says:

My sources say no

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

I am inclined to agree with you lol

This post has received a 1.89 % upvote from @boomerang thanks to: @tschelpps

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