Weakness Persists in Litecoin

8 Apr 2022

Litecoin dumped, but pivoted around $111, which we have added as a new technical level. From there, we edged higher, but faced steep resistance from $114 as confirmed by a red triangle on the KRI. The Kovach OBV is still quite bearish, as is the Chande, which suggests we might be reaching a bottom soon. However, don't be surprised if persistent weakness sets in and we test lower levels, including $111, $109 and at worst, $105. If we are somehow able to catch a second wind, then we must cross the vacuum zone above before hitting our next target of $120.