DonJackson

DonJackson

After days of consolidation in the 112-116 range, a meeting with the top of the bear flag, which formed earlier this month, became inevitable. LTC was ready to rumble resulting in a surge of volume unseen in the past few days and enabled the coin to launch above the 20 EMA (Blue) which was previously a solid point of resistance. The fun didn’t last long as the 50...

DonJackson

Today continues the consolidation of a weak and uncertain LTC. I have identified a bear flag on the charts in orange, and we can also see the 50 EMA (in blue) teetering along the top of the flag. This indicates a continued resistance that will likely prevent any strong upward movement outside of the flag. The low volume suggests more vulnerability for the market,...

DonJackson Updated 

With the continuation of failed breakouts lately, Litecoin is finally preparing to retest the $112 area for the fifth time. That said, it will likely fold under the sell pressure and deliver us into a support zone from the Februrary 6 low. There is a strong probability that selling pressure and momentum from the bears will propel us below the $106 zone where they...

DonJackson

Test Post.