Litecoin Technical Analysis 8 December, 2021

• Litecoin reversed the support zone
• Likely to rise to resistance level 192.18

Litecoin cryptocurrency recently reversed up from the support area set between the key support level 140.00 (which has been reversing the price from September) and the lower daily Bollinger Band. The upward reversal from this support zone started the active short-term corrective wave (iii).

Given the strength of the aforementioned support zone and global improvement in risk sentiment as seen across the cryptocurrency markets today, Litecoin cryptocurrency can be expected to rise further toward the next resistance level 192.18 (target price for the completion of the active short-term corrective wave (iii).).

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