FX.co ★ Litcoin confirms our bullish setup and makes new higher highs

In our previous analysis we noted that the back test after the triangle breakout in LTC/USD would be a bullish sign if prices bounced off the upper triangle boundary. Price is now trading at $259 having broken the $244 high made after the triangle break out.

Red rectangle- back test

Litecoin is making higher highs and higher lows. After the successful back test the chances for a move towards $300 have increased substantially. The entire crypto space is in bullish mode as prices continue to respect support levels. Price in LTC/USD has support at $216 and our closest target is at $286. Next target is at $332. As long as price is above $216 we remain in bullish momentum.