LTCUSD dont hold your breath

BITFINEX:LTCUSD   Litecoin / U.S. Dollar

Some key indicators to note:
ADX showing strong upward momentum
RSI looking overbought (be careful here)

Strong upward channel, with 50MA (in green) playing a vital role as support.

Expectation: Momentum is strong signalling bullish action. But in the short term, i'd expect to see a pullback to retest the 61% - 78% Fibonacci zone, or the lower bound of this ascending channel . For those going LONG, the 50MA would seem to be a favourable entry point.
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