Some Bearish developments happened in LTC lately.
LTC is trading under 50-day SMA which is negative. Moreover, the 20-day EMA broke below the 50-day SMA which considered a bearish crossover. LTC is also trading into a downtrend channel.
LTC has to break out many resistance levels to resume the uptrend the 20-day EMA, 50-day SMA and the resistance line of the channel. You can open long position only on a break out of the channel at $235.
Conversely, if it can't succeed to break above the moving averages soon we expect a rally to $135 or even lower at $100.
