FX.co ★ #Litecoin chart analysis

#Litecoin H4 It's already the third time the support at 49.34 is being tested and so far it hasn't been possible to overcome it. At the moment the moving average is above prices and this is a resistance that prevents the asset from moving upward. Therefore we have in mind, a bounce off support with prices moving above the moving average, this gives the bulls an opportunity and they could in that case aim for a rise to resistance at 52.80. We'll see based on the outcome of that. But a break of the support will indicate the likelihood of continued decline and a close below the level would confirm it. Support at 44.18 would then be the directional target. All the best to everyone.