Litecoin Faces Strong Resistance

Litecoin saw strong support from $101 and a nice burst of momentum took it all the way up to $111, which we called out as a target yesterday. We met swift resistance at this level confirmed by a red triangle on the KRI. The Kovach OBV is pretty weak, so we do not expect the rally to continue. It is highly likely that LTC will range or retrace. Watch for support at $105 or $101.