LTCUSD
The overlapping rise from the $32 low could be the beginnings of Intermediate wave ( 1 ) of Primary wave 3. Primary wave 1 topped out at the $93 high. A initial target for Primary wave 3 would be above $170 ( 1.618 x Primary wave 1 )
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Kommentera:
Suspected correction from the $70 zone interim high looks to be underway. Support levels to watch - $50 to $45
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Buying pressure is currently very strong. The probability of a correction is being reduced. Would like to to a sustainable break above 73
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$73 resistance successfully broken. LTC should continue higher to retest the all time high. Still suspect we are in the next trend up that should carry LTC above $100 to our target of $180 zone
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Kommentera:
LTC still pushing through resistance. The struggling through the resistance levels is typical of either a correction or the beginning of a new trend. We still favour the later - a beginning of a new trend. Next key resistance to push through will be the $80 zone - then on to retest the all time high.
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Key resistance level reached. Should now push on to test the all time high and onto our target zone.
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Daily chart. Resistance at previous 80's high now becomes support for a test of the all time high
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A break of $84 will be bad news for the short term up trend.
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Looks like we may now finally have a successful break of the psychological $100 mark. Price should now push higher.
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Any large correction in BTC could drag all coins lower. There is then a potential for a Elliott Expanded Flat correction in LTC.
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Any doubts of the next up trend in LTC has been erased by the breakout. Higher prices should now follow.