Litecoin broke nicely through resistance at 70.76 and triggered the cup-with-handle formation to test the former high at 84.00. We expect that 84 will act as a temporary resistance and rejects the first attempt to break above, but it should just be a question of time before resistance at 84.00 breaks too and Litecoin continues higher towards the 121.80 target.
In the short term, we see support at 74.21 with strong support foreseen at the former resistance at 70.76. We doubt that support at 70.76 will be formed, but it's a possibility.
Relevance up to 05:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
