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 overcome. At the moment the moving average is above the prices, which acts as resistance preventing the asset from moving higher. Therefore, a bounce off the support with prices above the moving average would be a bullish opportunity and could, in that case, target a rise to resistance at 52.80. We'll see what happens if that level is reached. But breaking the support would indicate the probability of a continued decline, and a close below the level would confirm it. Support at 44.18 would then be the next directional target. All the best.