Clearly, we have big resistance at 47.22. But if price begins to rally up toward that level (breaking out from the ) I think it's pretty likely that Litecoin could surge toward the 200 (in pink,) around the fifty dollar level. Litecoin is in a league of it's own right now, as traders load up ahead of the halving. As a result, I feel like the market is already pricing in the halving, and the actual event will probably produce a retracement in LTC.
On the , we can see that momentum is slowing down a bit, but that is to be expected in the normal progression of a . What we want to see is a hold above the 40 level, and a rally higher, with an expansion in momentum and a rise in . If for some reason price fails to do that, and falls below the 40 level, I would expect a fall to test the 50 (in orange) for support.
With that said, LTC looks strong like bull. So, we'll see what happens. My bias is to the upside, as LTC preps to extend it's powerful gains.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***