quantguy

Persistent Weakness Slams Litcoin

Short
BITSTAMP:LTCUSD   Litecoin
Litecoin appeared to be drifting up to test higher levels at $114, but didn't quite have enough momentum to reach this level. Several red triangles on the KRI market resistance at every step of the way through a brief bull rally over the weekend. The resistance proved too much for LTC and it subsequently dumped back to $105, where it is currently hovering. The Kovach OBV, once strong, has now arched over suggesting weakness is yet again afflicting Litecoin. If it dips further, then watch the vacuum zone down to $94. If we somehow receive a burst of momentum, we must break $114 before considering higher levels. The next target would be $120, if so.

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