Now on to the chart! We can see that LTC fell all the way down to the 200 (in purple,) and has since had a nice big rally off of that level. The long wick on the bottom of the selloff candle, shows heavy accumulation from the buyers, and at the moment, litecoin has pushed a bit higher. It's trying to get back above the 50 (in orange,) but has not been successful yet. The bulls need to get back above the 50 , and start heading higher, in order to gain momentum. The is trying to flatten out, but the sellers still have control of the momentum. If LTC fails to get back above the 50 , we could see another wave of selling. LTC is trying to determine direction at the moment, so I will keep you posted.
There is a lot of volitility in the crypto space right now. Be nimble. Have a price target. Have an exit strategy, and let the MagicPoopCannon educate you on market dynamics!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***