We have pounded the table on Litecoin on a few occasions during the last three weeks and tonight a bonafide breakout is underway:
Expect some minor resistance to come into play near $200 with an eventual measured move up to the $240 area. $175 now becomes support with $160 below.
The move in Litecoin caught the attention of CNBC’s Fast Money Twitter account:
Given the quality of the setup in the Litecoin chart there is potential for people to pile onto the buy side in Litecoin as the FOMO could be quite strong. With the LitePay launch just 12 days away I expect more anticipatory buying over the coming days.
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