Litecoin has been in a rising channel
since coming off of the daily bullish divergence
. The 4H MACD
has shown us more negative momentum with a higher low thus far, which is a positive thing. Price is sitting on a support level
, acting with RSI's supports seen on the 4H time frame. A break of this trend would lead one to expect a revisit to previous lows of $61-$63. If the support line is broken it will turn to a resistance before dropping down to any target areas. If on the daily chart
a new higher low is established, we might find ourselves testing the upper line which is now at the 200 EMA
on the 4H time frame at $74.
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