LTCUSD (Litecoin) – Week 6 – Another corrective down?
Updated
Litecoin moved slowly up this week and reached the resistance zone at $165 per LTC. This is a very crucial area to watch because if this area holds we should see LTC price fall and reach the $120 support zone. However, if the price penetrates the resistance and closes strongly above we should see a continuation of the uptrend with higher highs.
This time the Litecoin market interest is driven by institutionals compared to the 2018 rally that was guided by retailer interest. One example for this is Grayscale, a digital asset manager that currently holds almost 200 million dollars’ worth of Litecoin.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
This time the Litecoin market interest is driven by institutionals compared to the 2018 rally that was guided by retailer interest. One example for this is Grayscale, a digital asset manager that currently holds almost 200 million dollars’ worth of Litecoin.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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