LTCUSD (Litecoin) – Week 7 – Uptrend continued
Litecoin broke the $200 price today and before we see a continuation of the uptrend, we are expecting a retracement. We have 3 scenarios, either a small correction like the one it did in the beginning of February, a bigger one to the blue trendline and reach $180 before going higher or price will continue to reach new highs until it will eventually make a correction but not at this level.
Another important aspect that we learned this week is that the open interest in the futures contracts for Litecoin reached a record of $584 million. This makes LTC the 8th cryptocurrency by market capitalization but the 3rd in derivatives behind BTC and Ether.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Another important aspect that we learned this week is that the open interest in the futures contracts for Litecoin reached a record of $584 million. This makes LTC the 8th cryptocurrency by market capitalization but the 3rd in derivatives behind BTC and Ether.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
