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Litecoin targets September high as it approaches potential make or break moment
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Litecoin has approached a critical juncture at the 50% Fibonacci Retracement level. A daily close above the $190-mark would allow LTC to overturn a stubborn resistance and be in hot pursuit of its September local high.
If bullish momentum wavers over the coming week, bears could take advance of the chinks in LTC’s armor and initiate a drawdown back towards the $140 support. At the time of writing, LTC traded at $187.5, down by a marginal 0.8% over the last 24 hours.
Source: LTC/USD, TradingView
The Visible Range Profile indicated that a considerable amount of selling pressure was available for Litecoin between the 23.6% and the 50% Fibonacci Retracement Levels. To overcome this supply zone with conviction, LTC would need to target a daily
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