Litecoin Weak

Litecoin, like BTC, has clung to its ranging window with a hard lower bound of $162, a level outlined here many times. After sharply rejecting the central moving average of the KRI, which coincides with a strong Fibonacci and nested Fibonacci level at about $200, it has pulled back to this window. Clearly, $200 is also a psychological level, which makes it even stronger. We have a congestion level at $177 which should provide support if LTC retraces further from $181, where it is sitting at the time of this writing. The Kovach Momentum Indicators are gradually pulling up, which gives bulls some hope.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!