Litecoin Buy Opportunity

The price bounced from the support zone which was mentioned in the previous post about Litecoin. This zone is formed by SMA100 and 55.00 support level and it can be a starting point for a new upward movement. RSI and a reversal candlestick pattern confirm price reversal. MACD histogram supports upward movement. DMI allows opening long trades. We can buy from the market now or wait for an additional confirmation. It depends on you. If the price breaks the downtrend line, the buy signal will be stronger. Pending orders should be placed at 60.00 level with stop orders at 52.50 level. Profit targets are 70.00 and 90.00 levels. Also the part of trade volume can be left for long run.