Litecoin Testing Value in the $150's
Litecoin had a formidable rally last week, testing and rejecting $165 again. The level $165 seems to be a ceiling for LTC for now, as it has in the past. We've since retraced quite a bit from this level, smashing through support at our technical level at $158, which did little to slow the selloff. We are currently drifting in the $150's, and appear to be seeking value in this area. It looks like we are testing $153 as a lower bound to a potential value area, and thus we have added $153 as a new technical level to watch. We are seeing some very slight support here, and may be drifting back up to test $158, but if we don't see momentum come through it is likely to reject this level and hold the range between $153 and $158. If the $150's don't hold, then we should see support at $147 and $141.
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.