Will litecoin break through $185, and crack new high in August

5. Juli 2019

LTC’s block reward halving in August, signaling the increasing demand and potentially being a catalyst to drive prices higher. Since October 2018, Litecoin price has rapidly rebounded from bottom area and completed its 3rd wave climbing up. At present, it is still under the correction in the 3rd wave, and shows a sign of impulsiveness to surge to the 4th wave. In the current retracement pattern, we notice that the short-term trading volume tends to shrink, however, there is a strong bullish support in the range of $95-$110. Based on the apperance of MACD golden cross, we believe that LTC will end its consolidation and struggle to break the next resistance target of $185. Once breaking through, it may break the second resistance of $255, and LTC will break a new all-time high and step into the bullish run.

Risk reminder: Once breaking below the trend line, stop loss at $90.