The price dip following this period corresponds to price dip that occurred on BTCUSD , as BTC reached resistance at the $3000 level. The drop rippled through the crypto-verse, and was felt on all alt-coin charts. A correction upward followed, and a appears to have formed. This could indicate a retest of support around the $27 level.
My overall sentiment for this coin on the long term is , so I am perceiving this retest of support (which is a solid layer IMO) as a great reloading zone. Load up on cheap LTC.
If you are a day-trader and bought the dip yesterday with an entry point at $30, the $28.50 level is your support for the day, so place your stops accordingly.
Weak Support: $28.50
Weak Resistance: $31.00
Strong Support: $25.00
Strong Resistance: $32.00
Optimists use limits on long positions, while realists use stops. Trade smart, and good luck! I'll be back with another analysis tomorrow.