Will the litecoin rally be sustained into the weekend?
As you can see, LTC broke through the first point of resistance in its move upward, but encountered even more stiff resistance in the $230, and has so far been rejected. As of now LTC has held its gains above 110, but there is a descending triangle forming on the hourly chart that is a bearish indicator.
If the support holds in the $210 range, then LTC should have another chance to retest that resistance at $230. I currently have a stop loss set at $206 since I don't want to mess around should LTC retrace a bit too far. Should LTC drop below the support here, there will always be a chance for reentry lower down.
Please note, this is only my own personal speculation for personal learning, not financial advice. Good luck with future trades!
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I am inclined to agree with you lol
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