FX.co ★ Litecoin: uptrend unharmed

Litecoin dropped a little as BTC/USD slipped lower as well. It's located at 89.02 at the time of writing. The bias remains bullish in the short term, so further growth is natural. Only Bitcoin's downside movement should force the altcoin to drop as well.

LTC/USD increased by 4.04% from today's low of 85.56 to 89.02 current level. Still, an upside continuation is far from being confirmed.

LTC/USD Bullish Bias!

LTC/USD found resistance at 91.14 and now it has dropped to retest the uptrend line which stands as a downside obstacle. 84.97 is seen as static support. Technically, it's trapped between 84.97 and 91.14 levels.

As long as it stays above the uptrend line, the altcoin could still resume its growth. Only dropping below the uptrend line and below 84.97 may announce a potential sell-off.

LTC/USD Forecast!

A valid breakout through 91.14 and above the R1 (92.57) confirms further growth ahead. The R2 (97.54) could represent the next upside target.