Litecoin Facing Resistance

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin has pressed higher in a zig zag pattern, reaching as high as $217. We are seeing a red triangle on the KRI here, which suggests resistance. It will take some momentum to break through this level. The Kovach OBV suggests very weak momentum in this rally, and thus we are likely to retrace or range at current levels, before more momentum kicks in. We should see support at $202 and $209. If we are able to break through $217, then the next target is $227, where we will surely see resistance.

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