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 the moving average is above prices and this is the resistance that prevents the asset from moving up. Therefore we have in mind, a move off the support with prices above the moving average is a bullish possibility and could in that case target a rise to the resistance at 52.80. Well, we'll see by the result of reaching it. But a breach of the support would indicate a likelihood of continued decline and a sustained close below the level would confirm that. Support at 44.18 would be the directional prospect in that case. All the best to everyone.