Quotations of one of the most popular cryptocurrencies Litecoin have been in consolidation for a dozen or so days. It looks like we are approaching decision, which may take place later this week. In the case of a northbound outbreak, I expect to reach the price at least around the resistance of $ 240.

Picture 1. Technical analysis, litecoin, H1,06.03.2018

Possible continuation of the declines assumes an attack on a strong demand zone, which was shaped in the price region of USD 155. Due to the strength of the indicated zone, I expect that there will be at least a short-term rebound in this area.

Picture 2. Technical analysis, litecoin, D1.

Due to the higher probability of implementing the growth scenario, it is worth mentioning the next target level near 280 dollars.

Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.

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