Litecoin's small Rally Before Further Correction

2018年3月6日

RSI is oversold so litecoin should correct to the upside or consolidate but RSI is a gauge of momentum and a push into oversold territory for the 1st time in a while signals bears are in control. After the huge run up Litecoin saw with the news of the hard fork I expect a healthier correction than we have currently seen. The .5 fib is also a long standing support/ resistance line that I believe will act as a zone of increased buying interest. The current volume did spike but the ensuing move does not seem to have the strength to be the pivot of reversal, just a correction to the upside.