Litecoin Contiunes to Sell Off
Litecoin has trended down with the malaise in the crypto market. We have seen a slow and steady decline in this unfortunate coin with a persistent selloff that has brought us from relative highs in the $160's, down to support in the $150's. We are currently encountering support just above our level at $147, where LTC stubbornly refused to give up the $150 handle. The Kovach OBV is still quite bearish, so we are skeptical of any rallies. That being said, we do appear to be seeing a slight relief rally which has eeked back up to the mid $150's, but still has a bit to go before $158, our next technical level. We will see how this next level holds, if tested. If we see a rejection, then $147 should be an easy target. If we break it, then we may be able to recover the $160's. Recovering the $200 handle seems out of the question for the remainder of this year, unless something major happens.
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