Litecoin Breaks Through Resistance

Litecoin has pushed further, breaking our next profit target of $124. We are currently just above this level at $125 or so at the time of this writing. We appear to be considering the vacuum zone between $124 and the next major target of $130. The Kovach OBV is quite strong, lending credence to this rally, but it does appear to be looking oversold, suggesting a retracement may be near. If so, $114, or $109 should provide support, but $109 is a likely floor. If momentum continues, $130 is our next target and barrier to further levels in the mid $100's.