FX.co ★ #Litecoin chart analysis

#Litecoin H4 The support at 49.34 is being tested for the third time already and so far it hasn't been breached. At the moment the moving average is above the prices and this acts as resistance that prevents the asset from moving upward. Therefore, note that a move away from the support with prices above the moving average would be a bullish opportunity and could in that case aim for a rise to resistance at 52.80. We'll see what happens once that level is reached. However, a breach of the support would indicate the likelihood of continued decline and a close below the level would confirm this. Support at the level 44.18 would then be the prospective direction. All the best.