Litecoin New Entry Level

The price bounced from the bottom of the price channel and moved upward. Long trades opened based on the previous buy signal are in profit. Now we can think about new entry level for adding more volume. This trading idea is based on a breakout signal. If the market breaks 55.00 resistance level and moves out of the price channel, we'll get confirmation of further upward movement. MACD supports such movement and DMI tells us that bulls become stronger. Pending orders for buy should be placed above the resistance at 55.50 level. Stop orders can be placed below the support at 49.50 level. The main profit target is 90.00 level and the part of volume should be left for long run.