LTCUSD : Bullish Analysis - Target $560 USD

9 Jan 2018

As mentioned in the previous "Bearish Analysis - Target $104 USD" on LTCUSD and according to its fundamentals becoming positive for the Litecoin it will induce bulls to come in to the market making a huge demand once again. In order for that to happen from the technical perspective it needs the price to beak out the red falling wedge line marked with a symbol of an unlocked paddlock. Once it did, according to the applied Fibonacci retracement levels the price will then reach previous resistance levels at $335 USD and $379 USD respectively before breaching those key levels to make new highs around $485 USD and $560 USD afterwards.