DA Bull here giving you an update on one of the best investment coins, LTC. Most of us know Litecoin Foundation has just received an offer for 9.9% ownership of W.E.G. bank in Germany (most don't know the option exists to acquire another 80% for 90% ownership! link here). We can thank Charlie for the foundation having enough $$ to pull off a move like that. In addition to the bank news, Litecoin is constantly making headlines on companies adopting litecoin: Coinbase's shift Visa card, Wirex, TenX , and alza.ca were just some tidbits over the last month.
Litecoin is a solid add to any portfolio, but acquiring at the lowest price will obviously lead to greater profits. This chart shows the potential drop LTC might have if BTC continues in this direction. The price point shown here is $58. Remember when LTC was $35 and that was big news? Who knew we would be close to 100% retracement from there.
Keep enjoying your weekend!
Many are calling for $7400, but the retracements on this leg are much shallower than previous legs (legs being $11k to $6.5k, then $6.5k to $10k, then $10k to 6k...you get the idea). Additionally, after we peaked on a leg and started to head down, price tended to test the 200MA after falling below. This would support that $7250 level as well as 200MA is at $7210 right now.