So LTC has been having a nice retracment from last spike which was finished on 19th of December. According to the fIbb. levels we could se downtrend continuation till fibb. 50.00% before the downtrend will be broken and reversal could happen.
As marked down.. if we have a bounce from 50% fibb. level with the downtrend being broken a buy zone (yellow quadrant) could represent great opportunity to have 130% gains on mid-/ long- term.
However heavy resistance lines marked down could represent heavy rebound zones in both directions...so stop orders need to be placed wisely.
If downtrend is not broken than we could see drops down to 61.80% or even to 78.60% fibb levels.
LTC will be also placed on new exchange on 11.1. January so this could give additional boost..
greetings and happy trading
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Like I said...It is rocky...Mostlieklly due to the Ripple going through the roof and ethereum gaining momentum due to the upcoming fork.
otherwise we are headed to test
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61.80% or even to 78.60% fibb levels.
updated chart will be coming later if I see some possible sidemovment.