Litecoin is building a bottom formation in the shape of an S/H/S bottom. We saw Litecoin spike to a low of 82.59 yesterday. This is enough corrective downside pressure to turn Litecoin higher, but we need a break above the minor resistance at 86.89 to confirm that wave 2/ has been completed and wave 3/ higher towards 111.41 is underway.
Short-term we expect support at 82,59 will continue to act as a floor for the expected break above minor resistance at 86.86.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin is building a bottom formation in the shape of an S/H/S bottom. We saw Litecoin spike to a low of 82.59 yesterday. This is enough corrective downside pressure to turn Litecoin higher, but we need a break above the minor resistance at 86.89 to confirm that wave 2/ has been completed and wave 3/ higher towards 111.41 is underway.
Short-term we expect support at 82,59 will continue to act as a floor for the expected break above minor resistance at 86.86.
The material has been provided by InstaForex Company – www.instaforex.com
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