LitecoinShort
Litecoin Smashes Through Support
Litecoin has topped out at $134 before sharply retracing to support at $120. We saw quite a bit of resistance near highs confirmed by several red triangles on the KRI, and we were very vocal about this, to warn bulls to ease off. Sure enough, we saw a sharp selloff soon after. The Kovach OBV has turned over sharply, confirming the selloff. If support at $120 does not hold, then $114 is our next target, then $109, then $105. It is doubtful we will see any significant momentum come through for now and $134 is likely to remain a ceiling for now.
Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.