Litecoin Testing Lows

26 May 2022

Litecoin has broken down from our support level at $66.94, but has found immediate support below at $64.37, which we have added as a new technical level as LTC has tested it a few times during the two week malaise in crypto. The Kovach OBV has taken a dip downwards and is gradually slumping as the price action in Litecoin is broadly rounding off (illustrated by the curved upper bound we have added on the chart). This suggests the willigness to test lower levels and if $64.37 does not hold, then there is a vacuum zone to $55.84. If we can pivot from current levels, then $73.62 is the next target.