FX.co ★ LTC/USD reaches next target area and resistance

In our last analysis we showed the bullish channel LTC/USD was in and noted that a push towards the upper channel boundary towards $175 was highly likely as long as bulls held price above $160.

LTC/USD momentum remains bullish as price continues making higher highs and higher lows. Price reached the upper channel boundary and made a high today at $174.51. Support is at $152.50 at the lower channel boundary. Any pull back towards that support level is considered a buying opportunity as bulls remain in control of the trend. Exiting the bullish channel is something bulls do not want to see.