Litecoin Pivots back to the low $50's

Jul 15, 2022

Litecoin has bottomed out just above our level at $45.48. We have pivoted off lows and made a run back for the $50's. Currently, $50.64 and $51.92 are providing steep resistance as we anticipated. If we are able to break through then we will surely meet further resistance at $55.84. The Kovach OBV is still completely bearish, without even the slightest uptick even with the pivot. This suggests a bear divergence that will surely take us back to support in the $40's again.