Litecoin LTCUSD On the Brink of flipping back to Positive
Finally a good double bottom overnight has created the loss of
downward momentum needed to tempt back the bulls here -
but it's now probing key resistance at 157 and likely to run
into profit taking soon.
It now has to move up above here and hold it on retest to break
the overall downtrend and to allow it to run up to 195 and
then 216 and on through the lines of fixed resistance above it
back to the highs. This break is important and will flip
Litecoin from negative back to positive on a dime.
Finally a good double bottom overnight has created the loss of
downward momentum needed to tempt back the bulls here -
but it's now probing key resistance at 157 and likely to run
into profit taking soon.
It now has to move up above here and hold it on retest to break
the overall downtrend and to allow it to run up to 195 and
then 216 and on through the lines of fixed resistance above it
back to the highs. This break is important and will flip
Litecoin from negative back to positive on a dime.