Litecoin Clinging to $100 😨

10 mar 2022

Litecoin showed signs of bullishness, catching a nice bid off the crypto rally, however this excitement soon faded, and we gave up higher levels and retraced back to comfort in the low $100's. We broke out of $105, but just barely. Resistance was met at $108 confirmed by a red triangle on the KRI, and the price immediately rounded off and retraced almost the entire move, cutting through $105 with ease. Currently, we are hovering around support at $101, but we are still looking pretty weak. The Kovach OBV has turned over completely, and the both Kovach momentum indicators are in strong bear territory, suggesting we may be oversold and the price may stabilize between $101 and $105. If not, there is a vacuum zone below to $94.