Litecoin has edged downwards to continuously press the lower bound of the KRI
. Both Kovach Momentum Indicators have turned bearish
, and this is true across the board. It is now apparent that we are in wave 2, which began February 20th when we hit a relative high. LTC is currently clinging to support at $180, after testing and rejecting $176 yesterday. This level has been explicitly identified many times here. If bearish
momentum picks up, then we have more support from below at a nested Fibonacci level at $162, which has also been identified many times here. When momentum reignites, LTC must break $189, $200, $208, $210 and $220 before considering $236 again. Overall, we seem to have broken down from a bull flag
which is not encouraging.
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