Litecoin Establishes Value in the mid $130's

Litecoin has hit our price target of $141, but then swiftly retraced back to comfort in the $130's. We found good support at $134, and are currently meandering in the upper $130's, suggesting a value area may be forming between $134 and $141. The level $130 should hold if we break $134. In the event of a further selloff, we should see support from $124, with a floor price of $120. If it is able to mount momentum to test $141 again, then $147 is the next target.