It looks like we may be seeing LTC/USD at a discounted price over the upcoming days. Sell-offs began yesterday, February 20, 2018, as BTC was on the verge of breaking the downward trend line. If the current trends continue LTC may find support around the 0.382 fib line. This would place the price between $190-$200. Personally, I would like to see prices continue to dip. A healthy correction would put LTC price around $160.00. This price corresponds with the 0.618 fib line. A correction of this magnitude would still place LTC above the previous downward trend line that was established at the ATH. This line is denoted in pale blue. If a correction to the 0.618 fib occurs I believe it would fuel confidence in buyers.
Of course, LitePay is still on the horizon. It is hard to say how this will play into the current market conditions. With the current uncertainty, my safe play is to stay on the sidelines. I will be watching price action around $195 first. If support is not found it is not unreasonable to see prices drop to the $160 area.
This is not investing or trading advice. Make your own decision based on your own research.
Criticism and feedback are very welcome.
Of course, LitePay is still on the horizon. It is hard to say how this will play into the current market conditions. With the current uncertainty, my safe play is to stay on the sidelines. I will be watching price action around $195 first. If support is not found it is not unreasonable to see prices drop to the $160 area.
This is not investing or trading advice. Make your own decision based on your own research.
Criticism and feedback are very welcome.
LTC has reached $195. Also, it appears that we are be trading in a downward channel.
This is not investing or trading advice. Make your own decision based on your own research.
Criticism and feedback are very welcome.