Looking at Litecoin on the 4-hour time frame we can see that its found its potential bottom and has stopped falling downwards.
The falling knife bottomed out at the $121 - $124 level of accumulation / support and eventually found its sustaining support along the $171 - $183 level along the 2-year valley created back in 2018.
From here, it looks like Litecoin is going to continue consolidating along $171 until it inevitably breaks out higher and regains this upwards channel going higher towards the 2018 high and above.
To regain the previous highs created by Litecoin in May, we need to regain all of these previous support levels turned resistance.
Moving forward, assuming this is bottom, here are my next TP's moving forward:
TP1 🎯 $218
TP2 🎯 $262
TP3 🎯 $312.78
TP4 🎯 $349.45
As always please do your own research, I am not a financial advisor.
The falling knife bottomed out at the $121 - $124 level of accumulation / support and eventually found its sustaining support along the $171 - $183 level along the 2-year valley created back in 2018.
From here, it looks like Litecoin is going to continue consolidating along $171 until it inevitably breaks out higher and regains this upwards channel going higher towards the 2018 high and above.
To regain the previous highs created by Litecoin in May, we need to regain all of these previous support levels turned resistance.
Moving forward, assuming this is bottom, here are my next TP's moving forward:
TP1 🎯 $218
TP2 🎯 $262
TP3 🎯 $312.78
TP4 🎯 $349.45
As always please do your own research, I am not a financial advisor.
