Gotta say Litecoin price action is acting more resilient than I expected. After a quick dip down to 97 on an intraday basis price has pushed right back up to the highs in just a few days.
Sadly I had buy order down at 93 as it looked like that is where price would likely pullback to on the weekly chart. Apparently things are strong though and the overbought condition on the weekly is sitting on the sideline for now.
Level Up or Fail
So here we are. Looking at the daily chart you can see we are testing the 120 area. Really we just need a close above 118, but on intraday basis need to see price above 122 to truly make a new high, well a new high for this move off the bottom.
Alot of people believe LTC will remain bullish with the halvening coming in less than 60 days. This could be the case, but there is data that both supports and refutes halvenings having an predictable impact on price.
Either way I’m hoping LTC remains strong, the weekly chart does worry me a bit though.