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FX.co ★ Litcoin confirms our bullish setup and makes new higher highs

Litcoin confirms our bullish setup and makes new higher highs

In our previous analysis we noted that the back test after the triangle breakout in LTC/USD would be a bullish sign if prices bounced off the upper triangle boundary. Price is now trading at $259 having broken the $244 high made after the triangle break out.

Litcoin confirms our bullish setup and makes new higher highs

Blue lines - triangle pattern

Red rectangle- back test

Litecoin is making higher highs and higher lows. After the successful back test the chances for a move towards $300 have increased substantially. The entire crypto space is in bullish mode as prices continue to respect support levels. Price in LTC/USD has support at $216 and our closest target is at $286. Next target is at $332. As long as price is above $216 we remain in bullish momentum.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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