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The Litecoin rally has been amazing and very bullish these past few days. We were able to call out this bullish move as early as the 1st of April 2021 Litecoin Getting Ready To Explode! Watch This Level and since then we have followed it up with analysis after analysis as the Altcoin price developed on the chart.
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Target Met. What Next?
Our $329 price target has been met, But at this price region, Litecoin is trading at new highs. This means there is no “Historical chart data” to properly analyze the Litecoin price.
And while there is a probability that the price might continue surging higher, there is also a very high probability that we might see a sell-off back down to the $245 support region.
Taking some portion of your profit off the table at this point in time might be the right thing to do. This way you don’t give back your gains in the event the Litecoin price retraces back to the $245 support region.
However, right now Litecoin is still very bullish and there is no bearish chart pattern forming.
Bitcoin And Ethereum Also Surging
The two big coins in the crypto world; Bitcoin and Ethereum are also surging higher every day. Thi bullish momentum is affecting the entire crypto market and creating a bull run that has seen almost surging higher.
This means there is a very high probability that the Litecoin price will continue to surge higher in the coming days, giving us various bullish continuation patterns we can take advantage of.
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More Trading Ideas?
Watch our short Youtube technical analysis to take advantage of this bullish move forming on Bitcoin.
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Are you new to trading? learn all you need to know about trading by reading our How To Trade Bitcoin Guide. It is the best crypto beginners guide on the internet. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
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