- Litecoin has been in freefall for the past 12 days, but is about to contact the daily 200 Moving Average, which proved strong support twice in May.
- The daily and both are indicating a possible shift in momentum to the upside.
- The (far lower) weekly 50 Moving Average is more likely to be our target as we move into July.
- The weekly is currently indicating downward momentum.
Essentially we may see a short term bounce off the daily 200MA, around 0.0122, but over the coming weeks should anticipate to fall below it to the weekly 50MA, around 0.0109.
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