As discussed here
, we've been anticipating a Litecoin correction for a week or so now. Today we not only got what we were anticipating, but the price came exactly
to our level! Article summary (for the short attention span crowd): We noticed that LTC had flatlined, and was due for a breakdown to $51.22. That level was hit last night. Litecoin is currently finding support around this level, around $52 at the time of this writing. This breakdown took a bit of patience, but readers were rewarded for their diligence.
It could go either way from here, but an emphatic breakout to the upside seems dubious. If so, watch the nearest Fibonacci level around $55. If it collapses again, well have support at $49.44 before a vacuum zone down to $40.12. These were levels mentioned in the article from before, but are worth reiterating.
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