LiteCoin (LTC/USD) Analysis August 14, 2017 – iNVEZZ

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LiteCoin (LTC/USD) Analysis August 14, 2017

Litecoin continues to look a bit soft, but as I pointed out yesterday, we are hovering a major support level in the form of $46.50. The market is at roughly the 50% Fibonacci retracement level as well, and I believe this bodes well for buying on the debt. After all, the US dollar has been on the back foot as of late, but the last couple of sessions have been a bit stronger for the greenback due to the tensions with North Korea. As soon as that stops, greenback selling will probably come back into play. Once this happens, we should see a bounce in this market and an attempt to break out to the upside and reach towards the $50 level again.

Adding slowly, waiting for the break out

 

At this point in time, I think that the only thing you can do is add to this market slowly, and wait for that break out. I believe that there is a massive amount of support underneath, extending down to at least the $45 level. Because of this, I feel that those of you who can wait will be


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