Litecoin has broken down to reach the 50 Day EMA cryptotraders cryptotrader cryptotrending
The 50 Day EMA is an indicator that a lot of people have paid close attention to, and therefore it is likely that we continue to see the 50 Day EMA offer bits and pieces of support, especially as it is racing towards the $125 level. There is a certain amount of psychological support there, and therefore you need to pay attention to that as well.
The 200 Day EMA sits just below the $150 level, and therefore I think it makes a nice target. That is an area that I think will act as a bit of a “ceiling in the market”, and therefore if we were to break above there, it would change everything for Litecoin. Keep in mind that Litecoin will also be influenced quite a bit by larger coins out there such as Bitcoin and Ethereum. If they continue to rally, then that will be very good for Litecoin.
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