Veteran trader Peter Brandt has published his first targets in Litecoin, which has pumped by 43% in the last three days. According to Brandt’s technical analysis, the first major resistance for the classic altcoin is at $400. Here are the technical levels…
Peter Brandt says LTC could retest $395
Brandt said in his latest tweet that Litecoin (LTC) could retest $395 before the new year hits. In addition to the tweet, the trader shared the Litecoin chart below, where altcoin investors can see a break in the resistance line based on the previous ATH level reached in September and the future resistance zone.
https://twitter. com/PeterLBrandt/status/1458115751458447368
What levels does the analyst expect in the altcoin season?
Cryptocoin. com
The resistance zone pointed out by Peter Brandt, whose analysis we shared as , is associated with Litecoin’s May peak at $414. Immediately after reaching the new ATH, Litecoin retraced 60% within a few days, leading to a massive capitulation. After the massive pullback and its market selling out globally, most traders lost interest in Litecoin causing it to be stuck in a specific range for the past 170 days.
The most notable move in the Litecoin chart was noticed on September 13 when a fake announcement was posted that Walmart was accepting Litecoin, leading to a massive price spike that later disappeared. Some analysts noted that Litecoin’s performance against its biggest rival, Ethereum – was unacceptable as it resulted in a 91% price movement; This means that while Ethereum is constantly rising, Litecoin is moving or falling in a range.
