Litecoin Ranges after Hitting Our Profit Target

Nov 4, 2021

Litecoin made a run for $209, reaching our profit target at this level and closing our trade. We are currently seeing a double top at this level and are forming value just underneath, finding support just under our level at $202. The $200's seem to be holding strong for LTC, but if not, $195 should provide good support, then $191. After that, there is a vacuum zone down to $184. The Kovach OBV is still pretty strong, and appears unfazed by the pause at $209, suggesting that this is just a sideways correction. Nevertheless, $209 appears to be providing resistance, so we will need further momentum before considering higher levels, the next target being $217.