More Downside Ahead for Litecoin!

Taking a look at the four hour chart, we can see that LTC has just closed under the 200 EMA (purple line,) for the first time since November 7th. It now appears to be testing the bottom side of the 200 EMA, to confirm it as resistance, before heading down to the next target of $150. The sell volume is also increasing, further supporting the projection of a continuation to the downside. Personally, I am waiting until I see a supportive candle, with a bullish MACD crossover, before adding to my LTC position.

-Jeremy D-

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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***