Litecoin shooting to $125.80 next thanks to a Cup of Tea?Well this has come to a surprise.
We have our first LONG crypto trade line up for the year.
Litecoin has formed a Cup and Handle over the last few months and recently has broken up and out of the brim level.
The Moving Averages are looking perfect as 7>21>200 SMA.
RSI is also above the 50% and broken above the negative divergence which is bullish.
My first target is $125.80
Interesting facts:
Litecoin is a cryptocurrency created in 2011 by Charlie Lee, a former Google engineer and is known as the "lite version of Bitcoin.
It has a faster block generation time and a different hashing algorithm which is 2.5 minutes, compared to Bitcoin's 10 minutes.
Unlike Bitcoins market cap of 21 million, the total supply of Litecoin is 84 million.
It also falls in the top 10 cryptos - which considers it a safer investments than the others.
Litecoin has been used as a testbed for Bitcoin's proposed upgrades and features, such as atomic swaps and the Lightning Network.
