Litecoin (LTC) All Set To Break Past $100 Mark — Crypto Daily™


Litecoin (LTC) has been going through a rough patch for the past few months as the price nosedived from a euphoric high of $366 to $88. For the past few months, the price has traded closely in a well defined triangle with a support line passing through the $88 mark. Currently, Litecoin (LTC) seems to be rebounding from this level to head towards the resistance line once again. It is not yet clear as to whether or not Litecoin (LTC) might be able to break out of the triangle during this attempt, but it certainly appears to be heading towards the upper side of the triangle for now, to break past the $100 mark in the near future.

Litecoin (LTC) is far from its all time high of $336 and it is not clear how long it will be before it can break out of this triangle to continue trading upwards. However, the RSI level is currently in the oversold territory. Every time that has happened in the past, the price has bounced back. We can expect a similar scenario to unfold at this point but Litecoin (LTC) may yet be due for another retracement before it finally breaks out. This would coincide with a retracement from the resistance line (upper portion of the triangle) between July and August.

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