LITECOIN Blows Passed Resistance For Big Gains

Cryptos are still looking to consolidate. Litecoin had a tough triple top at resistance which we figured would eventually break due to the shorter rising support levels. Ultimate support was found at $46.50 and we saw the bulls carry on their plans to continue the rally.

Resistance now is just shy of the $52 level.

From here, we're still looking for healthy consolidation for a chance to give the bulls a break. Also, this will allow the proof that bears can't push back.

Lots of the conditions are still overbought though, to include the daily on most all crypto charts. The last time we saw overbought RSI levels was back in July of last year where we saw a similar pattern with the rally, consolidation, rally and then dump.

Still be cautious, despite the short term bullish charts. Most cryptos have not reversed the trend on the weekly charts just yet -- Litecoin is the only one.