We mentioned in our previous analysis that the recovery in Litecoin was stronger than that of other cryptocurrencies. While the other cryptocurrencies rose to new lows on February 6, the LTC / USD remained at its February 2 lows, which is a sign of strength.
If the recovery breaks $ 175, it will indicate a double bottom in the short term, which gives an upward target of $ 243.
At the same time, the cryptocurrency has a large amount of higher resistance between $ 168 and $ 185 dollars. Therefore, we anticipate a few days of limited action in the range between $ 107 and $ 175.
We recommend buying once the pair exceeds $ 185.