LTC/USD ANALYSIS

Litecoin LTC was the one of the biggest losers in last week’s crash,

having broken below the $100 mark. However, in the last 24 hours,

Litecoin could break back above this price level.

That’s because in the 12-hour chart, Litecoin has formed

a double-bottom, which is usually a good sign of an impending uptrend.

Unless Litecoin breaks below $92, it is likely to rise further to $106,

which is the first major support to the upside.

This view is well supported on the day chart where Litecoin

is consolidating at between $95 and $101.

That’s an indicator that after last week’s drastic drop,

Litecoin is regaining its losses. Therefore, this is the best time to make a long entry

into Litecoin LTC. The risk/reward ratio is quite good,

especially if bitcoin breaks back above $7000 to support the whole crypto market.

CHEERS