Litecoin LTC was the one of the biggest losers in last week’s crash,
having broken below the $100 mark. However, in the last 24 hours,
Litecoin could break back above this price level.
That’s because in the 12-hour chart, Litecoin has formed
a double-bottom, which is usually a good sign of an impending uptrend.
Unless Litecoin breaks below $92, it is likely to rise further to $106,
which is the first major support to the upside.
This view is well supported on the day chart where Litecoin
is consolidating at between $95 and $101.
That’s an indicator that after last week’s drastic drop,
Litecoin is regaining its losses. Therefore, this is the best time to make a long entry
into Litecoin LTC. The risk/reward ratio is quite good,
especially if bitcoin breaks back above $7000 to support the whole crypto market.
CHEERS