FX.co ★ Litecoin aims at 94.01

The price of Litecoin rallied in the short term and now is trading at 90.84. You knew from my previous analysis that the altcoin could come back higher if Bitcoin jumps higher. LTC/USD increased by 11.88% from Thursday's low of 82.52 to 92.32 yesterday's high.

LTC/USD increased by 1.04% in the last 24 hours but it's down by 0.10% in the last 7 days. Still, after its strong rally, we cannot exclude a minor retreat. A larger growth is far from being confirmed.

LTC/USD Strong Upside Pressure!

LTC/USD rebounded after testing and retesting the lower median line (lml). You knew from my previous analysis that as long as it stays above the lower median line, the altcoin could come back higher.

The next upside target is represented by 94.01. Still, in the short term, the rate could try to test and retest the weekly pivot point of 89.05 before extending its growth.

LTC/USD Forecast!

A valid breakout above 94.01 validates further growth towards the median line (ml).