Litecoin currently holding at the 20EMA however we expect the cryptocurrency to re-test the break out level at $54.57 before moving higher. The cryptocurrency market was hit hard yesterday as China announced they will be banning ICO's (Initial Coin Offerings) stopping companies creating finance through pricing the coins at a fixed rate.
We don't see this as a huge dent to the markets and our analysis shows prices are still likely to move higher from a technical stand point.