The FOMO is Strong: Litecoin Breakout

We have pounded the table on Litecoin on a few occasions during the last three weeks and tonight a bonafide breakout is underway:

Litecoin (Daily)

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.

 

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the 321Ethereum website do not necessarily reflect the views of 321Ethereum LLC, publisher of 321Ethereum.com. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Cryptocurrencies can easily lose 100% of their value. It’s your money and your responsibility.

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