Litecoin has remained sluggish, commensurately with Bitcoin, ranging at around $240 at the time of this writing. We do appear to be forming a dragon head pattern, so a breakout can be expected, though LTC seems slow to get the memo. We have tested and rejected the lower bound of the KRI, which is a good sign for LTC bulls. The Kovach OBV has remained bullish, and the Kovach Chande appears to be turning from a bearish run which indicates the time might be nigh to add to a position. We have strong support from below at $236, a nested Fibonacci Level, and face resistance from above at $272, the central moving average of the KRI, and a nested Fibonacci extension level at $288. We do appear to be starting Wave 3 of the impulse of a 5-3 Elliott Wave, though it has gotten off to a very unimpressive start.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
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