LTC showed strong support in the $130 range and broke out past the $150 resistance line leading to the recent peak of ~$240.
We experienced a healthy pull back testing the $150 to $200 range where $150 has become support and $200 as resistance.
Looking at the short term, we can see that we've entered a creating some consolidation causing sideways trading. In the long term, we're entering a symmetrical .
With psychological support at ~$120 and psychological resistance at ~$250 and momentum receding, this looks like a decent accumulation area as long as support holds and we stay within the eventually breaking out to the upside turning the upper side of into support. If there is a breakdown, strong psychological support should play out around the ~$100 .
Correlation with BTC is steady and LTC seems to continue to following BTC longer term movements while reacting to short term plays exaggerating the LTC chart a bit when compared.
Overall, I'm feeling very on LTC and more than happy to continue accumulating seeing as its not a much desired crypto to own while still remaining relatively popular and well supported while maintaining stability and lower fees over its competitors.