Our preferred view remains that Litecoins are locked inside a triangle consolidations and ideally should stay below 226.33 for a final dip close to 195 but could move all the way lower to 184 before taking off for real and shoot through resistance at 226.33 for a rally towards 324 and possibly even higher in the coming months.
That said a direct break above resistance at 226.33 will indicate the completion of the triangle consolidation already has been seen and the rally towards 324 is unfolding
Trading recommendation:
Buy Litecoin near 195 and even better near 184 if possible or upon a break above resistance at 226.33 for the next strong rally higher to 324.
The material has been provided by InstaForex Company - www.instaforex.com