Litecoin has had a nice meltdown from the last top zones, where we had a good breakdown of the neckline zone, and now we are re-testing it.
We are looking here for a weakness to kick in near the re-test and a potential further movement to lower zones. If all plays out nicely, we should see a movement towards 200 EMA.
Swallow Team
Comment
⋅
Litecoin has made a nice fakout where we had a nice attempt at breakout while we did fail to secure it and went back to lower zones.
We are not looking for further movement here, and as some of you may know already, we have shorted it ourselves as well 😉.
Comment
⋅
After a breakdown, we had a small 5% movement while the price was not re-testing the broken zone!
We are looking for a weakness near that re-test to happen, so eyes are open here for sure!