Litecoin: Has legs on the upside, with caveats

Litecoin the crypto has found itself placed very well in terms of technical chart pattern on the medium term chart that suits the bulls well. Caveat? Recent lows should hold which is a lower end of the upward rising parallel channel.

LTC/USD down just about a percent on day at $61.168 after bouncing from day’s low of $60.752 in a lower volume weekend trading. On the four-hour chart of this coin, it is trading in a higher high higher low upward sloping parallel channel which is bullish for the prices, as long as prices remain in this channel.

Immediate support stands at $59 which is lower end of the channel while upper end of the channel is placed at $70, but before it tries hitting that, $63.10 is a must to cross past – earlier high of the channel.


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