If we look at everything with the alt coins currently it doesn’t seem to be pretty. We saw back in the December 2018 lows that miners lost faith and began to shut their rigs down. This is happening with litecoin now after experiencing more than a 50% loss during what was expected to be a sustained bull run. This wouldn’t be the first time a major drop has happened for litecoin during a bull market, but we all know we can’t use past performance to determine future events. With that being said we did see a 65% drop for litecoin from 90s to 30s before skyrocketing over 400 during bitcoin’s parabolic rise. If we continue this bleeding and history rhymes, we should expect a $50 litecoin soon. The reason why I don’t believe that will happen is because of the Heiken Ashi chart on the weekly time frame. It has been consistently red immediately following the doji candle toping out at 140. We are now seeing volume dropping off with possible momentum shift on the MACD. We are also hovering around a very critical support level which just so happens to be the 0.618 Fibonacci level of the 22 and 140 price levels. We should at the very least start to see a relief rally back to the 117 range. If we are indeed in a bull market and bitcoin decides to break the current triangle structure to the upside,then litecoin could very well break its previous highs and reach 200.