With both Bitcoin and Litecoin hitting major Weekly resistances they have pulled back hard. The next support on LTCUSD itself is 3.23. If price recovers it will have to conquer $5 to go any higher.
The positive correlation between Bitcoin and Litecoin remains strong. In this bearish move Litecoin moved down 40% off the high while Bitcoin moved 30% off the high as of writing. LTCUSD, which I have a long term target of $0.00, remains a great hedge to short against to protect Bitcoin holdings. I do not advise using LTCBTC though. There is not enough volume to trade safely with set risk stop orders.