Litecoin Struggling with $100

3 May 2022

Litecoin still remains bounded by $101, and is currently hovering around $100. As we mentioned yesterday, we saw a nice pivot from $94.84, and show a clear bias for $100. We do appear to be seeing a bull wedge forming bounded by $101, but the Kovach OBV is looking pretty weak, and appears to be turning a bit bearish. We will need more momentum to break out from current levels. If so, $105 is the next target. If things turn south then $94.84 should provide support again.