The quotations of litecoin cryptocurrencies after strong declines, reaching the area of support strength of USD 100, fell into the consolidation period. The upper limit of the aforementioned side trend falls near the level of resistance located in the price region of USD 160. If it is broken, I expect growth to continue at least to USD 210.

Picture 1. Technical analysis, litecoin, D1,12.02.2018

The key will be the reaction to the abovementioned resistance of $ 160. If this area is defended, then there is a high probability that the current consolidation will prolong for another week.

Picture 2. Technical analysis, litecoin, H4,12.02.2018

In the event of a price drop below the support level of $ 100, the supply side will not have too much space due to the proximity of the next level already in the region of $ 90.

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

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