Hey traders,
It's been a week since my last analysis on Litecoin and so much has happened since then. Every single TP listed on the previous chart has hit to a Tee after Litecoin saw that continued consolidation period along $121.20 - $124.40.
From this bounce, Litecoin hit and cleared the $136 - $140 distribution zone, knocking out the previous 2019 high price.
Looking at the daily chart, Litecoin has already hit the $159.65 TP level that i've called out and looks like it's going to close over it going into the weekly close.
Going long, the next target for Litecoin is the $171.55 - $183.81 distribution zone that was created by the 2-year valley back in 2018.
TP1 🎯 $171.55
TP2 🎯 $183.81
Not saying that Litecoin already isn't in a bull market, but the touch of these levels would confirm it. Litecoin on this daily candle has already backtested the levels of support so it can move up, even as low as the $114 support level. This scam wick basically confirmed any doubts that we were going to pull back heavy.
1st post of many in 2021, let's see where this year takes cryptos. The best is yet to come!
It's been a week since my last analysis on Litecoin and so much has happened since then. Every single TP listed on the previous chart has hit to a Tee after Litecoin saw that continued consolidation period along $121.20 - $124.40.
From this bounce, Litecoin hit and cleared the $136 - $140 distribution zone, knocking out the previous 2019 high price.
Looking at the daily chart, Litecoin has already hit the $159.65 TP level that i've called out and looks like it's going to close over it going into the weekly close.
Going long, the next target for Litecoin is the $171.55 - $183.81 distribution zone that was created by the 2-year valley back in 2018.
TP1 🎯 $171.55
TP2 🎯 $183.81
Not saying that Litecoin already isn't in a bull market, but the touch of these levels would confirm it. Litecoin on this daily candle has already backtested the levels of support so it can move up, even as low as the $114 support level. This scam wick basically confirmed any doubts that we were going to pull back heavy.
1st post of many in 2021, let's see where this year takes cryptos. The best is yet to come!
