FX.co ★ #Litecoin chart analysis

#Litecoin H4 Currently the asset's quotes are trading at the support level 50.72 and as for the moving average, it is currently above the quotes and that is resistance and consequently favors the downside. Essentially it's normal to move away from support to the upside and if the moving average allows it through above, it will head to the resistance at 55.20. But right now there is a probability that they will go to break the support. In that case, with or without a close below, they may move to the support at 48.47 and only then will the quotes reverse to the upside. If it goes lower, then that's a complete collapse of the upside and a prospect for the downside. All the best.