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22.11.202215:15 Forex Analysis & Reviews: Litecoin maintains bullish momentum

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Green lines -Fibonacci retracement

Red line -support trend line

Litecoin is trading around $62-$63 continuing its upward trend with price making higher highs and higher lows. Resistance remains at the $63.75 area where the previous double top was made. The 78.6% retracement level is the next target and if bulls manage to recapture it, then we could see a stronger move higher towards $72.50. As long as price is above the red upward sloping trend line we remain short-term bullish looking for a test of $67 and $73. Support is key at $59.55. Failure to stay above it will be a bearish signal.

Alexandros Yfantis
Analytical expert of InstaForex
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