FX.co ★ #Litecoin chart analysis

#Litecoin H4 The support at 49.34 is being tested for the third time already and so far it cannot be overcome. At the moment we have the moving average above the prices and this is a resistance that prevents the asset from moving upward. Therefore we have in mind, 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 based on whether it's reached. But a breach of the support would indicate the likelihood of continued decline and a close below the level would confirm it. Support at 44.18 would then serve as the directional target. All the best to everyone.