Litecoin has been bullish in November. But in the past week, it retreated from around 0.01050000 BTC to about 0.00810000 BTC before a sharp rebound.
- The 1H cart shows the bull run followed by a choppy correction.
- The price action that bounced off a rising support suggests that the market has bullish bias here.
- We can look to buy on a dip towards 0.08440000
- Entry at 0.08440000
- Stop at 0.07940000
- Target 1) 0.00933900
- Target 2) 0.01040000
- Target 3) 0.01103000
We should note that the optimism has to do with the prospect of LTC becoming a leader in these 2nd generation coins, which are focused on solving the transaction speed and cost issues (essentially scalability).