Litecoin Testing Highs Again

Although we're seeing a bit of a pullback, confirmed by a red triangle on the Kovach Reversals Indicator as we face the upper bound, Litecoin has tested highs again, which is a sign of bull momentum confirmed by the Kovach Momentum Indicators. The band width on the Reversals Indicator is wide though, and must consolidate at some point.

We appear to be in Wave 3 of the impulse of a 5-3 Elliott Wave. Watch for pullback as we enter Wave 4. Consider profit targets at $100 (psychological), $130 (Fibonacci extension). There are support levels from below at $86 (Fibonacci anchor) and $71 (Fibonacci Level).

Consider taking some profits, or adding on another dip.

If you like the Reversals or Momentum Indicators, check them out here! Also don't forget the crypto specific indicators...