LTC AND EOS – UPSIDE EXPECTED
Last week, on Wednesday, September 23rd, the price of Litecoin came down to revisit the September 21st low area and was coming to around $42.5. Since then we have seen the formation of the ascending channel in which the price has been bouncing and now again came to its resistance level for a higher high. At the moment it is being traded at $47.9 which is slightly below todays high but is showing strong bullish momentum as the majority of the increase occurred in two hours.
On the hourly chart, we can see that the price still hasn’t come to test the significant horizontal resistance point at around $49.1 but interaction is likely to occur shortly as it came above the minor horizontal level at around $47. A pullback might happen before the expected interaction in which case another retest of the ascending channels support level could be seen, but considering that the price has surpassed the $45.3 level it could find support around $46 area.
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