FX.co ★ LTC/USD surpasses our first target

LTC/USD has reached our $165 target from our analysis posted on January 31st when price was around $130. Short-term trend remains bullish as price is inside an upward sloping channel. Price has potential to reach $180 if bulls are strong enough to hold above $160.

Price is making higher highs and higher lows. Recent low at $144,86 is important short-term support also because there we find the lower channel boundary. Short-term resistance and short-term target is at the upper channel boundary at $175. As long as price is inside the bullish channel we remain optimistic looking for a test of 2021 highs. The momentum is bullish. Upside potential if bulls continue to hold above $125-$130 is at $220.