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LTC showing strength, potential buy opportunities near

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Out of the main large cap coins, LTC has shown quite a bit of strength through this overall down trend we've been seeing in the crypto market. Looking at the daily chart , LTC has slowly pushed the downtrend (shown in orange) upwards. LTC has challenged the upper portion of the downward channel but hasn't made a major breakout past it yet. Look for $185 to be a strong test of the ceiling in the downtrend the next few days.

LTC is posing to poke through the 50 EMA (shown in white) which would be a decent sign of strength as LTC has been stuck underneath the 50 EMA for the past two weeks.

LTC has pretty strong support (light blue dotted line) around the $125 to $150 range. The light blue circles are justifications to the support. LTC has rebounded and consolidated around that range in the past quite frequently.

There is heavy resistance around the $230 to $250 range (shown in pink). Breaking through that resistance would be a pretty bullish signal but LTC looks like it has a ways to go before it can get there. It would take a bit of consolidating and pushing above the 50 EMA before we can take that resistance into consideration. Pink circles are justifications to that resistance.

We're nearing a potential bullish MACD crossover, but a MACD of -10 isn't exactly the most oversold condition.

LTC is slowly narrowing out the Bollinger Bands and sliding along the bottom portion of it. A quick run up in the near future is looking like a good possibility.

Overall, LTC has shown quite a bit of strength during this seemingly never-ending correction/crash/sell-off whatever people are calling it. Expect to see quite a bit of consolidating for the foreseeable future until we get a clearer picture on regulations and laws regarding crypto. Good luck!
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