Litecoin fashioned reduced highs and uncovered help close to $131 thus building a descending triangle. After the rejection of its selling price at the resistance point, the coin seems on its way to look at an assist.
However, a triangle breakout may be underway, but some technical indicators have not shown any clear signs. The 100 SMA is better than the longer-term 200 SMA signaling that the route of least resistance is to the downside.
The longer-term 200 SMA has lined up with a major triangle to boost the support. A split underneath assistance could guide to a fall of the identical top as development, which ranges between $131 and $160.
Additionally, the initial resistance is near the 23.6% Fib retracement level of the last decline from the $136.15 high to $124.91 low. According to litecoin price predictions, the coin may be trading at $600 at the end of 2018.
Currently, looking at all the digital coins in the market, litecoin is among the largest cryptocurrencies. As such, the coin is out of the limelight. Read more from crypto-lines.com…
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