Litecoin Consolidates at Higher Levels

2 feb 2022

Litecoin has made a concerted effort to test higher levels in our range between $105 and $114. The upper bound of this range is providing prohibitive resistance at $114, and Litecoin appears to be consolidating at this level. The narrow range in volatility suggests that Litecoin is coiling up for a breakout either way. The Kovach OBV has flattened considerably, but does suggest a slight bull divergence. If we are able to break out, then $120 and $124 are our next targets. If we retrace, then $105 should again provide support, but there is a vacuum zone down to $94 if not.