Litecoin(LTC): On The Verge To Breakdown!

Litecoin is looking for a potential breakdown of the local support zone (which is also at the 100EMA line).

After seeing a nice rejection from the "double top" pattern, we have been pressing that lower zone (support), and now it seems about to be broken. Look closely into it for any clen breakdowns!

Swallow Team

Comment:

100EMA has been fully broken, and the lower support zone is not far from being broken as well.

We are looking constantly for a sign of weakness here in order to see a good movement towards 200 EAM (or even further to lower zones).

Comment:

Litecoin has made a nice breakdown and a movement towards our first target zone (5% of market price movement).

As we have tested the 200EMA line, we are now testing the upper broken zone, which is not showing any resistance as of now.

We are keeping an eye on it for sure for any further potential good moves to happen!

Comment:

After a nice re-test, which confirmed the breakdown, we had a nice 19% of market price movement filling out both of our zones.