FX.co ★ nelle40 | #Litecoin chart analysis

#Litecoin H4 The support at 49.34 is being tested for the third time already, and so far it hasn't been breached. At the moment the moving average is above the price, and this acts as resistance that prevents the asset from moving higher. Therefore, we mean that a move away from the support with prices above the moving average would present bullish possibilities and could in that case target a rise to resistance at 52.80. We'll see what happens once it's reached. But a breach of the support will indicate the likelihood of a continued decline, and a close below the level would confirm that. Support at 44.18 would then be the next potential target. All the best.