Litecoin Consolidating and Slowing Down

Litecoin recently broke past the support at $95 and by the number of sideway bars with little movement, I say we might enter a consolidation period. I believe looking at market structure we can expect a retest of that level and price heading to the next major support level at $85, where price should react and give us a nice opportunity to get long with minimum target at $95 - $97 and a more optimistic target at $104 - $106 for the top of the higher timeframe swing high.

Posted using Partiko iOS