• Litecoin reversed from support area
• Likely to rise to resistance level 225.00
Litecoin cryptocurrency recently reversed up from the support area located between the support level 143.00 (which stopped the earlier sharp sell-off earlier this month),lower daily Bollinger Band and the support level 165.75 (which has been steadily reversing the price from the end of February – as can be seen below). The upward reversal from this support area started the active impulse wave 3.
Given the oversold daily Stochastic and the improvement in risk sentiment seen across the crypto currency markets today – Litecoin can be expected to rise further toward the next resistance level 225.00 (former support from April).