LTC has broken back above the top side of the descending trend line
(from the symmetrical triangle) and is back above the 200 EMA
on the four hour chart. Unfortunately, this action is happening on flat volume
, so there isn't much conviction. We obviously want to see the 200 EMA
hold, but more importantly we want to see higher highs begin to form, and we want to trade back above the 50 EMA
. If and when those things happen, look for a challenge of the all time highs. If we head lower, that would signal a failed breakout, and $200 then $150 would be on the table.
When you need accurate analysis, turn to your good ol' friend, the MagicPoopCannon. =D
*** This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***