Litecoin has retraced further to the lowest levels of support in the $200 handle. We identified these in the last report, including $217, $209, and $202. The latter of these levels is where we are currently finding support. The Kovach OBV is solidly bearish, but we appear to be seeing a bit of a relief rally testing $217. Again, this appears to be but a relief rally into the overall bear trend, but if it continues, $227 would be the next target. On the other hand, $202 will continue to provide resistance if the selloff continues, then $195 and $191 will be the next levels to provide support in the $100 handle should we give up the $200's.
Note
Litecoin looking weak. We got support at $202, but are facing resistance at $227. This is an auspicious level that is proving to be the barrier to the mid $200's for LTC.
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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.