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16.04.202118:03 Forex Analysis & Reviews: Litecoin reached our target and remains in bullish trend.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

LTC/USD reached our $286 target and has pulled back towards $270. Trend remains bullish as price is inside the bullish channel after the triangle break out. The triangle break out was an important bullish signal and our next target as we said in previous posts, is now at $332.

Exchange Rates 16.04.2021 analysis

Blue lines - triangle pattern

Green lines - bullish channel

Litecoin continues making higher highs and higher lows. Support is at $257 and as long as price is above this level we remain optimistic for the next few sessions at least. Our next target is at $332 and if we reach that level we believe new all time highs will also come. If price breaks out of the green bullish channel to the downside, then we expect price to find support around $210-$180.

Alexandros Yfantis
Analytical expert of InstaForex
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