Litecoin above major support, watch for the break down.

Litecoin is holding well above our ascending support line. The key idea is to wait for the break of major support at 249 (ascending support, horizontal overlap support) and this could trigger a bearish exit towards 223 support (Fibonacci retracement, elliott wave projection, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 96% where a potential corresponding drop could occur.

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Losses can exceed the initial investment so please ensure you fully understand the risks.