As you can see last time LTC moved above the hourly 300 EMA the move started in jan 22 and lead through to jan 28. First you can see it tested it and confirmed it as resistance, then after retracing and finding support LTC rallied to the 300 EMA and broke the resistance. Shortly after, it hit the hourly 1200 EMA (Equal to the 4 hr 300 EMA) and confirmed it as resistance LTC fell back to the 300 EMA and confirmed it as support to then rally above the 1200 EMA.
This leaves 2 scenarios to watch for, at this moment LTC is trading above the 1200 EMA and if it manages to close above and confirm it as support we can see a rally to the top of our downtrend channel(Blue). If it can't confirm it as support now then we are looking to retrace down to the hourly 300 EMA which is also converging with the 0.5 fib line from the last time we rallied to the top of downtrend channel. After finding support here and bouncing we will have to watch how LTC reacts to the 1200 EMA to determine if we will rally higher or find new lows.
Good Luck out there and be safe!
This leaves 2 scenarios to watch for, at this moment LTC is trading above the 1200 EMA and if it manages to close above and confirm it as support we can see a rally to the top of our downtrend channel(Blue). If it can't confirm it as support now then we are looking to retrace down to the hourly 300 EMA which is also converging with the 0.5 fib line from the last time we rallied to the top of downtrend channel. After finding support here and bouncing we will have to watch how LTC reacts to the 1200 EMA to determine if we will rally higher or find new lows.
Good Luck out there and be safe!