Technical analysis of Litecoin/USD for March 8, 2021

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Technical analysis of Litecoin/USD for March 8, 2021

Technical analysis of Litecoin/USD for March 8, 2021

Technical analysis of Litecoin/USD for March 8, 2021

Litecoin could be building a S/H/S bottom and a clear break above resistance at 194.53 will active the bottom formation for a rally towards the former peak at 237 and longer-term towards the extension target at 324.63.

Support is currently seen at 177 and 174 below there.

Trading recommendation:

Buy a break above resistance at 194.53 and place the stop just below the low of the right should at 173.00.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/210695/