Litecoin to Bounce Back??

Nov 17, 2021

Litecoin continued to sell off, but has found support exactly where we told you it would at $217. Several green triangles on the KRI are starting to suggest that Litecoin is receiving strong support at these lower levels. The Kovach OBV is quite oversold at the moment, which could suggest that a relief rally is near, even if it is just a retracement into a broader bear trend. If the crypto market gains steam, then LTC should rally with it. Targets above include $242, $251, and $264. It is not likely to see levels close to $300 any time soon, but more likely that we will equilibrate in the mid $200 handle. We will see further support from $209, and $202 if it continues to sell off.