Litecoin - When to Buy

The price reached 100.00 level but could not stay in that zone. Now we can see the 2nd attempt to reach the important resistance and maybe an attempt to break it.

As the market made a good upward movement, buying now can be good only for investors who will be able to hold the coins for months or maybe years. If we are talking about short term and medium term trading, the current levels are too far from possible entry levels for buying.

What does it mean? It means that we have to wait for a correction movement and reaching the support levels, lines and only after getting confirmed reversal signals we will be able to open buy trades.

I'm not sure that the market will be able to pass 100.00 resistance without the correction to the support zones. Even if the price can reach 100.00 one more time, I will expect the reversal with the further falling to 75.00-70.00, 61.50 and 50.00 levels. RSI is in the overbought zone and it's going to confirm the price reversal. MACD and DMI support the upward movement, but if the price stays below 100.00 resistance for some time, these indicators also will be able to confirm the price reversal and the downward movement to the support zones. Buying from the support zones between 75.00 and 70.00 levels and at 61.50 and 50.00 levels, it will be a good idea.