A few days ago I suggested LTC is forming a long term head and shoulders pattern which would suggest a possible breakdown of price to historical lows.
So far price action is still within this head and shoulders pattern. Given that LTC's main base is China, it will be interesting to see (given recent events!) if and when it will recover. I still think it will break out of the H&S pattern to resume a bullish rally to ATH.
It is important, however, to keep an eye on the chart for a critical test of 0.01 levels (if it gets that low!). A strong breakout on high volume of the H&S would create a great entry opportunity for further gains.
So far price action is still within this head and shoulders pattern. Given that LTC's main base is China, it will be interesting to see (given recent events!) if and when it will recover. I still think it will break out of the H&S pattern to resume a bullish rally to ATH.
It is important, however, to keep an eye on the chart for a critical test of 0.01 levels (if it gets that low!). A strong breakout on high volume of the H&S would create a great entry opportunity for further gains.