LTC has much to overcome before going higher

On the 8 hour chart LTC is facing the 50MA (pink), prior Fib's .5 (yellow), current Fib's .382 and a month long upper channel line (green). LTC could overcome it, it could also pull back to the .236. Bulls appear to be in control for the moment but as we know the bears are capable of taking it right back. If LTC breaks up, target is the current Fib's .5 with the 100MA providing overhead resistance. If LTC pulls back, look for reentry at the current Fib's .236.

Trade closed: target reached:

LTC fell to $160.57. BTC has yet to hit support at $8330 and should it do so, LTC is likely to fall below the Fib's .236.