Green lines -Fibonacci retracement
Red line -support trend line
Litecoin is trading around $62-$63 continuing its upward trend with price making higher highs and higher lows. Resistance remains at the $63.75 area where the previous double top was made. The 78.6% retracement level is the next target and if bulls manage to recapture it, then we could see a stronger move higher towards $72.50. As long as price is above the red upward sloping trend line we remain short-term bullish looking for a test of $67 and $73. Support is key at $59.55. Failure to stay above it will be a bearish signal.
