The exchange rate of one of the most important cryptocurrencies litecoin slowed down slightly, which resulted in the formation of a double bottom, which is currently located in the price region of 100 USD. Thus, the price returned to the levels that we could observe in December last year.

Picture 1. Technical analysis, litecoin, D1,07.02.2018

If the demand side wants to continue growth, it will be necessary to break the local level of resistance near the price level of $ 150 from the point of view of the time interval H4.

Picture 2. Technical analysis, litecoin, H4,07.02.2018

If the growth scenario is implemented, the next target for bulls seems to be at least $ 210. It is worth remembering about a stop loss, which should be set below the level of 100 dollars.

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

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