FX.co ★ #Litecoin chart analysis

#Litecoin H4 At the moment the moving average is not allowing the asset's price to continue the upward direction and, it seems, it may go again to the support at 51.70. A breach of this support is a chance to continue downward toward the support at 48.47. However, a sustained close below the level is necessary, and that will serve as the signal for further downside. A move of prices now above the moving average could in that case be an upward move toward resistance at 55.33. Personally, I currently expect the support to be broken, and then we'll see what happens next in practice. All the best.