mkarias72

LiteCoin trading in a tight range with low volume

COINBASE:LTCUSD   Litecoin / Dollar
LiteCoin has been trading in a tight range as shown on the chart. Volume has been very low for two main reasons: 1) Its the holidays so many traders are on "vacation"; and 2) money has moved away from this Crypto. LiteCoin will continue to trade in this range until after the New Year. It is difficult to see where this will go but if it breaks the resistance level , then its a buy and if it breaks support, its a sell.

Short term I am neutral but long term, LiteCoin will continue its upward movement although 2018 should be another volatile year.
Komen: The $254 support level was broken today. Next support level is around $$219. Short term bearish here. The support level usually become resistance so until $254 is broken (meaning closes above $254), I would not buy at these levels.
Komen: LTC has recovering but now is the $254 support level has become resistance. This $254 will continue to be resistance until it is broken on strong volume. I would like to see it remain above $254 for the entire day. Otherwise, I would stay away.
Komen: Has finally broken $254 resistance on strong volume. Needs to hold this for the next day. Next resistance level is $294. Once that is broken, we could see all time highs (ATH).
Komen: Didn't hold and has fallen below $254 level again. This is why you wait for confirmation. Just because it breaks resistance doesn't mean it will not go back.
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