Litecoin Reached the $78 Target Before Some Profit Taking

We last talked about LTC a week and a half ago. At that time price had rallied strong after confirming the $50 level as support and sat in the highs 60's

After a short few days of digesting that move and letting the 10 day moving average catch up price gave us that next push to our $78 upside target (next resistance level) before running out of gas.

Retest or Failure

After the move LTC had I'd of been surprised to see it blast through the $78 level on the first try. The pullback we have seen since hitting $78 is perfectly orderly and has pulled back to the 10 day average.

In my opinion as long as price stays above $67 then price action keeps a bullish tone. Ideally, price can just maintain the 10 day average and make another run at $78.

If price breaches $78 then we are looking at $90 and $100 as the next upside targets. If price were to sell of below $67 then $64 is a level I would look at next.

Posted via Steemleo