LTC/USD registered a strong upwards movement and now is located at 96.78. You knew from my previous analysis that the altcoin could develop a new leg higher after reaching a strong support level. Litecoin increased by 15.29% today, from the 84.29 daily low to the 97.18 daily high.
In the last 24 hours, Litecoin is up by 14.86% and by 11.33% in the last 24 hours. After this amazing rally, we cannot exclude a minor retreat. Still, the altcoin is strongly bullish, so further growth is natural.
LTC/USD Amazing Rally!
LTC/USD registered an aggressive breakout through the flag's resistance. I've told you in my previous analysis that the altcoin could develop a new leg higher after retesting the uptrend line.
Now, it challenges the weekly R1 (96.14) which represents an upside obstacle and is almost to hit the 97.53 former high. This represents static resistance.
LTC/USD Forecast!
A valid breakout above 97.53 validates a larger growth and is seen as a new long opportunity.
