Litecoin Testing Lows Again
Litecoin found support at $124, which we identified as a new technical level. Bull momentum was quickly thwarted by $130, and we appear to be headed toward $124 again. This consolidation of volatility appears to be forming a bear flag potentially before another breakdown. The next level down is $120, then we have a wide gulf to $105. The Kovach OBV is very bearish and the market is oversold and due for a good pump, even if it is just a short covering rally.
Trade closed: target reached
Litecoin hits our target of $120!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.