Litecoin: Short-Term Buy
Litecoin, 1-Hour Chart Analysis
Another push to new highs is expected in Litecoin as the cryptocurrecncy seem to have found support near the $9.50-$9.75 zone. The $12.50 level remains in focus as LTC already doubled in April. If the current breakout continues, even the $20 level might be in play, with no major resistance level ahead above $12.50.
Below $9.50 the 8.30 or the $7.75 level could serve as a broader stop-loss level for longer-term traders. Another strong support level is found near $6, while the original breakout level of $4.35 is the last resort support for the current move.
Bitcoin: Long-Term Buy (Update)
Bitcoin, 4-Hour Chart Analysis
Bitcoin reached the confluence of the declining trend-line and the $1200-$1215 resistance zone last night, as we expected. Short-term traders might monitor the rising short-term trend-line that is currently found at $1175 on the 4-hour chart for a tight stop-loss level.
The $1215 level remains the next crucial hurdle for the cryptocurrency, although another corrective phase is possible if the price stays below the declining long-term trend-line. The prior resistance at $1150 and the strong support zone between $1100 and $1115 might be the target of the possible correction.
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