Litecoin Strong

Litecoin seems to have conquered technical weakness in the form of a retracement last week. It rejected the central moving average of the KRI, which at that time was at $185. It has since picked up to $193, where we will find support if this rally retraces. Both Kovach Momentum Indicators remain bullish and are accelerating notably. Elliott Wave analysis confirms that we appear to be ready for more momentum as we enter wave 3. Levels from below include the psychological and technical $200 and $210. If we retrace further, the central moving average of the KRI at $193 will provide support, then a nested Fibonacci level at $162. Levels in between include $189 and $176. LTC appears to be gunning for $236 again, but this is offering resistance at the moment. If we can break that level, we have a relative vacuum zone up to $258, a congestion zone, $268 which is a Fibonacci level, and finally another nested Fibonacci level at $288.

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