However, we are now at a very important resistance for Litecoin.
It is going to take a lot more to break the previous that has now flipped as resistance.
We are in a massive with declining and momentum is starting to take over.
The only thing I can see that keeps Litecoin propped up here and breaking through the resistance is that short interest is at all time highs on Bitfinex and much higher than long interest right now, which means we could get a short squeeze that takes us for further upside momentum.
One big push could create a cascade of short liquidations to push us to higher highs.
Either way, I would encourage you to raise stop losses and/or hedge your profits if you are still in on this trade because if it turns down, it'll probably be fast and vicious.
If we do break down from this , I'll be looking at a potential re-entry around the 70.6% fib retracement level for a strong S/R flip.