Litecoin Lags

Following in the footsteps of BTC, Litecoin has retraced significantly, though it unfortunately could not even test the central moving average of the KRI, like Bitcoin did. The Kovach OBV is still strong, indicating long term momentum is strong, though the Kovach Chande is solidly bearish, indicating that right now might be a buying opportunity. LTC is ripe for another gust of momentum to push it past the nested Fibonacci level of $236, the central moving average of the KRI at $267, and another nested Fibonacci level at $288. It has support at the psychological and technical level of $200, and then at a nested Fibonacci level of $162, though it is doubtful it will get that far.

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