Litecoin Tests the Range

Litecoin got strong support from $105, and made a run for the next level at $114. We seem to be meeting resistance just below this level at $110 or so, confirmed by several red triangles on the KRI. The burst of momentum that permeated the rest of the majors did not seem to benefit Litecoin nearly as much as we were unable to attain new relative highs, and were barely able to test the upper bound of the range. Litecoin has been holding the range between $105 and $114 since the latter half of January. We do see the Kovach OBV picking up, but it has largely leveled off. If we are able to sustain a breakout, then $120 is the next target. Otherwise, we should see support at $105, then $94.