Litecoin has broken nicely above the neckline resistance near 64.00 which has activated the S/H/S bottom formation for a rally towards the S/H/S-target at 97.38. In the short term, we could see a temporary setback to re-test the neckline near 64.00 before the next rally higher towards the 97.38 target. That said, we also have to respect the strong uptrend and the possibility of a direct break higher towards the 97.38 target.
To confirm the re-test of the neckline we need a break below minor support at 67.79.
Relevance up to 07:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
