Will Litecoin Push Higher After Cracking Downtrend?

Litecoin has shown some positive signs this week after cracking the down trend line and then having a successful test of it when putting in that most recent higher low.

Technically that is better price action

From a technical aspect the items I described above are a positive.  You can see them in the chart, trendline broken, a higher low put it.

On the flipside, volume has been nothing special and we have seen a similar move out of other alts, such as ETH and EOS.

So the question now seems to be – are the alts finally getting some love?  Or is this just an over sold bounce?

For Litecoin closing above $70 or so today will be the bare minimum for it to have a shot at pushing higher – in my opinion.   It definitely needs to remain above $65 over the coming days regardless for price action to be considered positive still.

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Markus Aarnio

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