Last week on the exchange rate Litecoin cryptocurrencies were marked by a tight consolidation, which together with the beginning of the new week was break upward. This opens the way to continue growth with another target in the price region of 280 USD. At this point, the resistance is determined based on the principle of changing poles.

Figure 1. Technical analysis, litecoin, H1,8.1.2018

Litecoin still has considerable growth potential. This year, two of the most popular cryptocurrencies managed to break new historical maxima, and Litecoin legitimizes the similar potential. First of all, you need to break the resistance of 280 USD, which is the last obstacle to the attack on maxima around 370 USD.

Figure 2. Technical analysis, litecoin, H4,8.1.2018

Due to the lack of historical references, another potential location for new historical maxima is the round level of 400 USD.

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

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