RE: UPDATE #3: Litecoin Entering $110-160 Buy Zone!

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UPDATE #3: Litecoin Entering $110-160 Buy Zone!

in litecoin •  7 years ago  (edited)

Personally, I would wait to buy up to 175 ...

LTC/USD

We had advised on long positions in Litecoin if the breakout sustains above the $175 levels. However, for the past three days, the bulls have been struggling to clear the 20-day EMA hurdle. 

 If the price breaks out of $175, it will clear the resistance from the 20-day EMA, the downtrend line, and the horizontal line. 

 We believe that this is a significant development. That’s we reiterate our recommendation to initiate long positions if the LTC/USD pair holds above the $178 levels for four hours. 

 The stop loss for the trade can be kept at $130. 

 On the upside, $200 is resistance. If the cryptocurrency struggles at this level, we should close the position or tighten the stops. 

 Once the bulls break out of $200, we might see a rally to $307.

https://steemit.com/cryptocurrency/@zorge13/price-analysis-feb-12-bitcoin-ethereum-bitcoin-cash-ripple-stellar-litecoin-cardano-neo-eos
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Thank you for your comment and perspective!