On March 9th
Litecoins price retraced to the Fibonnacci .618 support line (about 160.5) which proved a strong support. The next day LTC extended to the . 382 retracement
(about 195.8) near perfectly which also served as a strong resistance. At the time of writing LTC is still oscillating within this band and RSI
is not showing any bullish
is very slightly bearish
on the latest green candle is extremely low. In order to break an upward trend line
from the Feb. highs; a potentially bullish
development, we would need to pass roughly 193 by tomorrow, Mar. 13, 191 by the 14th, or 189 by the 15th. For those holding a prudent sell stop would be in the upper 150s b/c if 160.5 (the .618 Fibonnacci support) breaks, this could lead to more downside with 135 being the next support line.