TechnoMeter

Litecoin posted massive gains, still has room to run

Litecoin lit up the board with a 30%+ gain yesterday, and tacking some more on today. On Monday, we made note of key reversals in the cryptocurrency sector, and that they likely pointed to higher prices, but the rally has exceeded short-term expectations.



The break above 210 has the 257/270-area in focus, and if the rally really gains steam resistance beyond that area doesn’t clock in until over 300. At the moment, buying into the up-move doesn’t hold the best risk/reward, but momentum favors longs until we see a strong reversal in this week’s surge.

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