quantguy

Litecoin Breakout Continues

Long
BITFINEX:LTCUSD   Litecoin
LTC is still enjoying news regarding LitePay, having smashed the $200 level which was important technically and psychologically. The band width of the KRI has expanded notably to reflect this, and we are well above the upper bound of this indicator. At this point, we definitely seem to have entered wave 3 of the next impulse wave, one of the first coins to clearly achieve this status. Currently, LTC is sitting at $225, facing resistance from a nested Fibonacci level at $236. After that, we can expect resistance at $258 a congestion zone, $268 which is a Fibonacci level, and finally another nested Fibonacci level at $288.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!

Join my discord at discord.io/quantguy
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.