As I have been warning, Litecoin is now breaking support, below the bear flag, and the 200 EMA (in purple.) It has also created a bearish engulfing candle, with expanding sell side momentum. The bottom side of the bear flag is being tested, to confirm it as new overhead resistance. If LTC does not rally back above the 200 EMA, look for lower prices, possibly down to $200.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Comment:
As of 07:30 central standard time, LTC is forming a bear flag consolidation underneath the 200 EMA (in purple.) Sell side momentum continues to expand, increasing the likelihood of further downside. LTC is likely to fall in the coming hours.