This article was posted on Tuesday, 15:12, UTC.
Litecoin: Long-Term Buy (Update)
// -- Discuss and ask questions in our community on Workplace
. Don't have an account? Send Jonas Borchgrevink an email -- //
LTC/USD, 4-Hour Chart Analysis
Litecoin got dragged down below its short-term support zone, following the failed break-out attempt from the long-term consolidation pattern. The coin quickly rebounded back to its prior range, leaving the technical setup and our long-term buy recommendation unchanged. Short-term the currency is a hold, while a move above $32 would trigger another break-out trade with targets at $34.50, and at the prior high above $38. Support levels are found near $28, 26.25, and $24.
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.
Feedback or Requests?
Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.