Litecoin Surges to New High but Technical Indicators Flash Warning Signs

Litecoin has surged 4.53% to trade above its Bollinger upper band, but technical indicators are screaming exhaustion.

The RSI is at 78 and a dead-flat MACD histogram indicate that momentum is topping out in the short term.

The price of LTC has stretched $5 above even the faster exponential average, and one to two normal daily swings of selling pressure could take it back to the $60.61 immediate support level or the $57.76 strong support zone.

A flush through these zones would shake out the weakest hands and potentially reset momentum cleanly, which is exactly what LTC needs for a sustained run higher.