At the moment, 50% of Fibonacci is important for Litecoin (LTC) because it will allow us to understand what the intentions of this digital currency are. So what awaits us this weekend?
Yesterday’s positive day for Litecoin (LTC) which opened trading at 211 dollars to test the lows at the beginning of session in area 207 and start upwards in the area of 236 dollars and then retrace more than 50% and close trading at 220.47 dollars . The resistances to be monitored are: 239 and then 280 dollars, while for media: 175 and 123 dollars. The two long-term moving averages (100 and 200) are currently oriented upwards, being respectively in area 168 and 132 dollars.
For those wishing to buy Litecoin
Buy only when the price breaks static resistance in the area $ 239 with a stop loss at $ 210 and take profit in the $ 280 area.
Keeping the position since we do not know if it will rebound on the 50% Fibonacci level. For those wishing to sell Litecoin
Possible bearish admissions only at the break of the Fibonacci level of 50% in the $ 200 area with a stop loss positioned at 240 and the first target area 175 and then at $ 140