Regera
Short

LTC facing death cross, overhead resistance

COINBASE:LTCUSD   Litecoin / U.S. Dollar
As the market rises LTC has been lagging behind and for good reason. The 50MA is about to cross below the 200MA of which LTC has to overcome both those resistances in addition to the upper trend line and yellow Fib's .236. Given how strong this rally is, I could see an ambitious push to the yellow Fib's .382 ($163.80) but there's too much for it to overcome to reach let alone stay above that mark. A retest in the $102-109 zone appears to be likely in the next few weeks. On the flip side, the RSI is showing a positive sign when LTC broke above a 120 day downward trend line . If LTC overcomes the resistance and breaks above the yellow Fib's .382 then that resistance now becomes a support line and would be an ideal place to go long.
Trade active: Approaching major resistance. I would personally wait for an 8 hour candle to close above it before making any entries.
Trade active: LTC is pushing towards the yellow .382 ($163.80). If BTC can convincing break and stay above $9200 then LTC might try for the .5 ($180.64).
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