After shooting up to an 11-week high of $191.8, Litecoin has slowed down on the charts. A horizontal channel was now in the thick of things as price oscillated between their upper and lower trendlines. From this point, a breakout in either direction was possible but sellers had the edge over proceedings.
To outlast selling pressure, LTC would need to continue defending the lower trendline. This could invigorate a fresh wave of buying pressure to help with a retest of LTC’s 200-SMA…
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