Red lines- resistance trend lines (broken)
Blue line- next resistance
Litecoin is trading at levels not seen since May of 2022. Price is making new higher highs and higher lows as it breaks above $73. Short-term momentum remains bullish as we explained in previous posts. Litecoin's next upside target is at $90-92 where the next major horizontal resistance is found. Both major downward sloping trend lines have been broken. This week's price action is an important bullish signal for the medium-term trend change. The entire decline from $294 could be complete. Support at this week's low of $58 is crucial for the medium-term trend. Bulls need to defend it.
