Litecoin Technical Analysis Report 17 February, 2021

• Litecoin broke resistance area
• Likely to reach resistance level 250.00

Litecoin continues to rise strong after the price broke through the formidable resistance area lying at the intersection of the resistance trendline of the wide daily up channel from November and the resistance levels 200.00 and 210.00 (both of which were set as the buy target in our previous forecast for this instrument). The breakout of this resistance area accelerated the active minor impulse wave 3 from the end of January.

Given the clear uptrend that can be seen on the daily and the lower charts – Litecoin crypto currency is likely to rise further toward the next resistance level 250.00 (target price calculated for the completion of the active minor impulse wave 5).

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