WhaleAgents

Litecoin breaks the 6-month resistance trend line

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BINANCE:LTCBTC   Litecoin/Bitcoin
#Litecoin has broken the 6-month resistance trend line and has come down now to re-test the trend line resistance line, now in the form of the support. After the fifth test of the trend line, the price action pushed and closed comfortably above the trend line. A re-test will either result in an impulsive move higher as the new bulls ride the new trend or will come back down below the trend line, which will produce a failed break on the weekly time frame. As the break is comfortable, we are looking for the first option to materialize. The price action is expected to continue higher and test the horizontal resistance line first and then the 100 DMA, which proved to be the bigger test for the bulls.

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