The principle view of this commerce thought is on the 2-Hour Chart. The cryptocurrency Litecoin (LTC) has been channeling greater. The help was constructed utilizing the help at 140 and the upper low at round 163.75. The resistance line was arrange utilizing the 172.75 excessive and the 187.50 greater excessive. Expectations are for the cryptocurrency to retest the 200 value stage, a psychological stage of resistance.
LTC had optimistic crossovers on its quick (50-MA), medium (100-MA) and lengthy (200-MA) shifting averages. The cryptocurrency is at present buying and selling above all shifting averages. To enhance the transfer, the is buying and selling above 50 and there was a optimistic crossover on the KST .
The advice might be to go lengthy at market, with a cease loss at 163.75 and a goal of 200. This produces a danger/reward ratio of 1.20.
The views expressed are mine and don’t symbolize the views of my employers and enterprise companions. Individuals appearing on these suggestions are doing so at their very own danger. These suggestions are usually not a solicitation to purchase or to promote however are for purely dialogue functions. At present I’ve a place in LTC.