Analysis on FIRE! Were you with me? Litecoin! =D

Just a couple of hours ago, I told you that Litecoin could fall to the 50 EMA, where it should find support. That has happened exactly, as you can see on the chart. Technically, this is a positive thing to see, because it shows that we're confirming old resistance (pink dashes) as new support. The pink dashed support level, and the 50 EMA, are now very important for LTC to hold. A break below either one, could signal a deeper correction to the downside. On the upside, we can see that LTC is forming a strong hammer candle at the moment, which could send prices higher. A break above $308 will put the all time high in our sights.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-