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Trade Recommendations Update, June 13th

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Trade Recommendations Update, June 13th

Introduction

This article was posted on Tuesday, 15:12, UTC.

Litecoin: Long-Term Buy (Update)

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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.

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Mate Cser

Mate Cser

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.

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