On the 6th April LTC started to retrace until it found support at the 0.786 Fib. retracement from the Feb-April wave, this is right below EMA100.
At this point, Litecoin printed a big green candle that managed to put it back above EMA100 as well as EMA10.
Now trading above EMA10, LTCBTC is showing good potential, the next challenge is sitting 0.014492 or EMA50.
Let's get to business... Will Litecoin continue moving up?
- If you look at the , you can see that it is starting to curve up and the histogram is going in favor of the bulls.
- The downtrend has been broken and a strong bounce happened but it is still below 50.
- isn't as strong as we would like to see for confirmation, so we are seeing the good potential but still with some mixed signals.
To confirm additional action we would have to see a lot more coming in in the next two days, as well as LTC remaining above EMA100, or even better, EMA10.
What's your take on where Litecoin ( LTCBTC ) is headed next?
Share your thoughts in the comments section below.
Thanks a lot for reading.
See you on our next call.