As I've warned in previous posts, Litecoin is in a bear flag, and will likely head lower! Looking at the chart, we can see that LTC is now breaking down from the bear flag. This is a red flag warning of more downside for litecoin. We can see that price action has actually pierced the 200 EMA (in purple,) so it is likely to be broken in the near future. Also, the sell-side momentum on the MACD is increasing, and sell-side volume is overwhelming the buyers. If LTC has a sustained break below the 200 EMA (in purple,) look for prices to plummet to $200. To rescue this market, the bulls need to get back above the 50 EMA (in orange.)
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-