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16.04.202118:03 Forex Analysis & Reviews: Litecoin reached our target and remains in bullish trend.

LTC/USD reached our $286 target and has pulled back towards $270. Trend remains bullish as price is inside the bullish channel after the triangle break out. The triangle break out was an important bullish signal and our next target as we said in previous posts, is now at $332.

Exchange Rates 16.04.2021 analysis

Blue lines - triangle pattern

Green lines - bullish channel

Litecoin continues making higher highs and higher lows. Support is at $257 and as long as price is above this level we remain optimistic for the next few sessions at least. Our next target is at $332 and if we reach that level we believe new all time highs will also come. If price breaks out of the green bullish channel to the downside, then we expect price to find support around $210-$180.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2021
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