Technical analysis Litecoin LTC/USD - 19.12.2017

The fifth cryptocurrency in the ranking has been growing in the last 24 h a little over 9% and its capitalization reaches almost 19 billion USD.

Litecoin after a strong growth candle on a large volume has undergone into a correction phase. There is a candle with a long, upper shadow which is the first symptom of fatigue of bulls. Yesterday, this shadow was stamped with another growth candle. Today's candle is a candle that rejects the resistance of 350 USD and if it closes with 50% of the body of the previous candle - it will be the signal of a dark cloud curtain.

We recommend selling after breaking the upward trend line from the smaller interval and after the support retest of 312.60 USD from the bottom already as a resistance.

It will be a good decision to buy if we break 350 USD resistance again and test it from above.