Litecoin Faces Strong Resistance

Litecoin / U.S. dollar BITSTAMP:LTCUSD

quantguy

Litecoin saw strong support from $101 and a nice burst of momentum took it all the way up to $111, which we called out as a target yesterday. We met swift resistance at this level confirmed by a red triangle on the KRI . The Kovach OBV is pretty weak, so we do not expect the rally to continue. It is highly likely that LTC will range or retrace. Watch for support at $105 or $101.

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