Following in the footsteps of BTC
, Litecoin has retraced significantly, though it unfortunately could not even test the central moving average of the KRI
, like Bitcoin
did. The Kovach OBV is still strong, indicating long term momentum is strong, though the Kovach Chande is solidly bearish
, indicating that right now might be a buying opportunity. LTC is ripe for another gust of momentum to push it past the nested Fibonacci level of $236, the central moving average of the KRI
at $267, and another nested Fibonacci level at $288. It has support at the psychological and technical level of $200, and then at a nested Fibonacci level of $162, though it is doubtful it will get that far.
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