Litecoin Rejects the $140's

11 Feb 2022

Litecoin has sharply rejected $141 as we anticipated in these reports. It was starting to look top-heavy technically anyway, but inflation data and increased Fed rate hike expectations caused a sharp selloff from these higher levels. We are currently finding good support in the $130's, specifically at our technical level of $130. A green triangle on the KRI is confirming support here. If it does not hold, then $124 is the next level down. The Kovach OBV has leveled off suggesting that we are likely to maintain current levels and range for a bit as the crypto market finds footing and establishes value.