FX.co ★ #Litecoin chart analysis

#Litecoin H4 Right now the asset's prices are trading at the support level 50.72 and as for the moving average, it is currently above the prices and is acting as resistance, so it favors the downside. Essentially it's normal to move north from support and if the moving average allows a rise above, prices can go to the resistance at 55.20. But right now there is a chance they will try to break the support. In that case, with or without a confirmed close, they may move to the support at 48.47 and only after that will prices reverse to the north. If it goes lower, then that's a complete collapse of the bullish case and a bearish outlook. Wishing everyone well.