Litecoin Lagging

Like BTC, Litecoin remains fairly lackluster in its attempt to push higher. Unlike BTC, it could not even test the central moving average of the KRI, currently sitting below it at about $243. Both Kovach Momentum Indicators are bullish, but fairly stagnant, accurately representing LTC’s recent behavior. We seem to have gotten off to an extremely sluggish start to Wave 3 of the impulse wave, though we have strong support at $236, a nested Fibonacci level, and $199 a nested Fibonacci level that coincides with the lower bound of the Kovach Reversals Indicator. From above, we are still taunted by the central moving average of the KRI and a Fibonacci Extension level at $269. The next resistance level from above is $288, another nested Fibonacci level.

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