Litecoin (LTC) - retesting the channel
Hi
Litecoin is moving in a small downtrend channel, making lower lows and lower highs.
The last time LTC tried to break through the channel it got heavily rejected and made a lower low. Now we are testing the resistance line of the channel again so there are two options here.
Either we break through the line and go for retest of the 63 usd levels, or we get rejected again and make another lower low which would push LTC under the 55.91 support line.
I would wait for the candle to open above the channel before going long.
Litecoin is moving in a small downtrend channel, making lower lows and lower highs.
The last time LTC tried to break through the channel it got heavily rejected and made a lower low. Now we are testing the resistance line of the channel again so there are two options here.
Either we break through the line and go for retest of the 63 usd levels, or we get rejected again and make another lower low which would push LTC under the 55.91 support line.
I would wait for the candle to open above the channel before going long.
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