Along with Bitcoin
, Litecoin has a pop over the weekend, but retraced roughly to where it started in the $250’s. LTC seems sluggish to respect the arbitrage it has with BTC
when it rallies, but quick to retrace with it. We still have long term bullishness with the Kovach OBV, but the Kovach Chande is bearish
, indicating now might be the time to get LTC at a good price. The band width of the KRI is contracting sharply, indicating another breakout may occur soon. We are currently testing the central moving average of this indicator on which we will find support. If we can bounce off this level, the psychological $300 level, which coincides with the upper bound of the KRI is a very reasonable target.
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