Traders like support or resistance to be tested 3 times before they take a shot. Price has tested support for a 3rd time and this pair looks like its gaining momentum. Bulls are coming to the fore to take price up. When I look at this chart it seems the ascent has only just begun and we have along way to go. LTC is a good long-term hold and I believe has lots of room to go higher against the USD. Take some profit at the first target level - 526. Then the second 673 and the third 825. Targets are approximate - check for price action and a change of trend on the lower time frames to confirm targets.
LTC should value 1/4 of Bitcoin, however maximalists look LTC like a copy-cat and i think this is a huge mistake. I'm not sure what percentage of bulls will choose LTC instead of ETH, but i believe next announcements will bring good profits.
gillianpatrice
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@gxninja, Thank you for your wonderful research.
FebriWhiteRed
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Thankyu
lagonlez
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Thanks for your analysis My entry point was $228. I am waiting for an update. Thanks
gillianpatrice
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@lagonlez, Well done - a perfect entry. I will update when we break resistance.
FHLGFBF07
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Thank you!
lagonlez
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Good Point. I like the analisis. I think I will go long!