LTC/USD Price Analysis (13 Oct 2017) – Litecoin at a Key Area

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The next instrument where we could do better with our forecats is the Litecoin. We dealt with this altcoin on the 4th of Aprilwhen we were around the USD.

We were optimistic because the scale of the bounce was quite impressive. The reality verified our view. It is still positive but not as much as before.

In our last analysis we wrote:. Get an account with plus and trade all possibles types of CFDs: The support on the USD looks relatively safe for now and we have quite big chances to climb higher and reach the red resistances either the lower or upper line of the triangle.

Well, we were right here. That support was super important and got eventually defended. That was indeed a good place to buy LTC. Currently, the price is locked inside of the sideways trend. Litecoin tries to break the horizontal resistance USD again and the chances for that are relatively high. That gives us a trade with a desirable risk to reward ratio and makes the Litecoin an interesting trading opportunity.

Positive approach stays this way as long was the price is above the black line. Stay up to date with the financial markets everywhere you go. In our last analysis we wrote: Comments 0 comment s Click here to cancel reply. Get the most recent news at your inbox Stay up to date with the financial markets everywhere you go.

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Another main crypto on the market — Litecoin. Last time, we wrote a forecast of this instrument on the 29th of March. Our view was obviously negative and we had a clear target in mind:.

Get an account with plus and trade all possibles types of CFDs: After this, we got only bearish sessions. Quite impressive I have to admit. Our approach do not change, we should get there quite easily. That were the lows from the beginning of the February. The price did get there, almost… The lowest point of the most recent drop was around the USD. Not a big difference right? The market is not a pharmacy so it does not have to be so precise, right to once cent, especially on such volatile instruments as cryptos.

Anyway, that area was a great place for a bullish bounce! The support on the USD looks relatively safe for now and we have quite big chances to climb higher and reach the red resistances either the lower or upper line of the triangle. The only obstacle here may be the overall negative sentiment towards the cryptos, which may appear at the end of the week. Because the reversal on most of the altcoins is really miserable. Stay up to date with the financial markets everywhere you go.

Our view was obviously negative and we had a clear target in mind: Comments 0 comment s Click here to cancel reply. Get the most recent news at your inbox Stay up to date with the financial markets everywhere you go. Sign up for updates. View ICO See whitepaper.

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